Leaving a legacy is not bound by age. Instead, it’s a transformational phase into the next level for the business. Each stage of your business is like a building block. The succession planning phase seen often as an end, in reality, is a phase of wisdom. Specifically, you’re willing to pass on your knowledge and experience to your successor. You’re finally ready to inspire someone else to take on the most important role you’ve ever held.
This critical position and changing phase in your organization’s building blocks is an essential turning point. You’ll open up and share all of your knowledge, your actions, your thoughts, and your mistakes to someone else. Hence your subordinate truly becomes your equal, building a bond of trust. Their talent combines with your experience for a new phase in the life of your organization. They are chosen to continue in your footprints.
With that in mind, this key role comes with its own innovations and hopes driven by your successor. So, your emotional intelligence must rise to trust and pass these responsibilities on to someone else. Succession planning is your preparation for their takeover. With a solid business succession plan in place, you’ll be confident in their decisions. Well-built succession planning takes the company into new and unexplored directions while at the same time upholds your legacy goals and mission statement.