After a great run, I’m starting to think about what’s next for my business. How can I prepare to start to pass the baton?

Dear Pass the Baton,

In the last year, we’ve heard rumblings and witnessed many leaders as they made big shifts in their roles. Several clients moved away from executive positions into less demanding board positions. Many retired. Others changed organizations, or started the work of planning for their own exits with intention. 

Stepping away from an organization you’ve invested heart, time and talent into is difficult. When we bring up succession planning, a common reaction is like an ostrich - sticking its head in the sand. 

Sheldon Adelson once said, “ “Why do I need succession planning? I’m very alert, I’m very vibrant. I have no intention to retire.” 

Perhaps it’s like planning a will - few people want to face the questions the end of a career brings up.

However, we agree with Archibald Marwizi when he said, “Crafting a lasting legacy means you start planning and making it possible now.” Being intentional about your eventual exit allows you and the people you lead to thrive - whether you're looking at exiting in six months, or six years. 

Here are three things to think about as both the leader and as the employee who sees themselves as pivotal in keeping the organization moving in the next season.

If you’re a leader who is preparing to pass the baton, you can ask yourself …

1. What does good look like?

Creating a new future is an important place to start. We often preach, ‘start with the end in mind.’ So if this process were to go exactly as you’d like, it would be like what …? And in order to bring that vision to life, what do you need to achieve, avoid, and preserve in the process? (pst - you can visit this page to get a downloadable tool to help with organize these thoughts).

2. What do you keep in your head?

Institutional knowledge is real. And if you’re a founder, or have been driving the organization for a long time, it’s likely you have powerful connections, wisdom, and lessons-learned you call upon to inform your choices. How can you get these stories, truths, and connections into the systems your organization uses? What relationships need to be nurtured in service of this transition? Which leads to …

3. Who can help?

Succession, when done well, involves many people and information sharing. Whether you’re using a coach, or relying heavily on the members of your leadership team, this should not be a process you do in your office, alone. Start to think about who you need to include and when, and prepare timelines that involve what good looks like for them as well. 

“One of the things we often miss in succession planning is that it should be gradual and thoughtful, with lots of sharing of information and knowledge and perspective, so that it’s almost a non-event when it happens. “ - Anne. M Mulcahy

If you have employees emerging in the leadership space wondering what’s next, they can ask themselves …

1. What does good look like?

Good news. This answer is the same as what the leader is going to experience. So we’ll repeat - Creating a new future is an important place to start. We often preach, ‘start with the end in mind.’ So if this process were to go exactly as you’d like, it would be like what …? And in order to bring that vision to life, what do you need to achieve, avoid, and preserve in the process? Regardless of your current title, building a shared future that involves the organization is a practice of leadership.

2. Where can you be brave?

Stepping out of comfort zones and into the unknown is required for transition. Very few leaders have a plan that gets followed perfectly. Remember the pirate code from Pirates of the Caribbean? “They're more like guidelines anyway.” Think about how you can share your hopes and vision for your role with the exiting leader. What parts of the role can you take on or when can you shadow an important meeting? Unless you share your vision, your leader won’t know what’s on your mind. 

3. What do you want or need to learn?

In our experience, most people are in a leadership role ten years without formal training. TEN YEARS! We don’t want lack of training and development to be a barrier as you are growing your confidence for what comes next. Make a list of areas you’d like to grow and get feedback from a trusted colleague. Share this list with your leader and explore what you could be missing. And if you’re looking for specific support, check out the Ripple Leader Program. We’d love to partner with you as you build skills that will take you to the next level in stewarding your organization. 

We know succession planning can be a complicated process. Our team recently went through similar planning exercises to prepare for a sabbatical. This podcast episode may give you some things to think about. And, if you’re wondering where to start, sign up for an insight session to explore how a multi-pronged approach can prepare both you AND the people you lead for whatever’s coming next. Set up your call here.