planning for the future

How To Create A Succession Plan

Stop and think… do you have someone to replace key employees if they suddenly left? A lot of companies don’t. When we have discussions with our partners, we’re often asked that magical question: How do we create a succession plan?

Finding the right person to fill key roles is one of the greatest challenges of leaders.  Please take note: a replacement plan is not the same as succession planning. It takes time to develop people; giving them experience and strong mentoring.

Succession planning – the act of identifying and developing candidates for key positions within your company – is vitally important responsibility of every manager, leader, and board member. The crazy truth is that leaders know this, and it may even keep them up at night, but very few do much about it. Is it for lack of time? Is it because they have higher priorities? Or is it because they don’t really know how to create a succession plan?

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Sitting on a Lily Pad

Imagine a swamp. Frogs are croaking, dragonflies are buzzing around. Turtles are surfacing just enough so you can see their little heads. Alligators are swimming around, waiting for their next prey. A lonely frog sits on a lily pad, observing all that is going on around him. It seems like a normal day, but to this tiny frog, it is chaos. Everything is always changing, and he is overwhelmed. He sees the alligator slowly swimming toward him with a look of hunger in his eyes. The frog knows he has to jump, but he isn’t ready. What if there’s something else in the water? Why can’t I stay safe, here on my lily pad?

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Caught Up in Your Own Business

It’s the end of the year. There’s so much going on. Finalizing budgets, planning for 2015, updating your forecasts, managing people. You’re busy doing. Busy, busy, busy.

That’s great – you’re getting stuff done. But it begs the question: With all these things happening, have you taken the time to demonstrate visionary leadership? Does your team really know where they are going? Have you articulated the direction – the vision – of where the company and team are headed?

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Success is a Continuous Journey

Take a moment. Sit back and ask yourself this question: What made you successful? Was it your passion? Your perseverance? Your relentless efforts at coming up with new ideas? Now, ask yourself this: What happened when you made it? Did you see the success?

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