by John Gross
For many small business owners, succession planning conjures up thoughts of retirement, estate planning, and handing the keys to the next generation—someday, far in the future. As a result, it often gets pushed to the bottom of the to-do list, somewhere between “update the will” and “finally take a vacation.”
That mindset is a liability.
Succession planning isn’t just about exit—it’s a growth strategy. It protects business continuity, attracts top talent, and increases valuation. It also builds autonomy—one of the key factors buyers and investors look for.
Succession isn’t about stepping down. It’s about leveling up your organization so it thrives without depending on you.
Start with these questions:
- What roles or knowledge gaps would cripple the business if left unfilled tomorrow?
- Do we have internal talent ready to grow, or do we need to look outside?
- Are our structures, coaching, and systems developing future leaders?
- Is our legal, tax, and financial structure ready for a planned—or unplanned—transition?
If family is part of your plan:
- Do they actually want to run the business?
- Are they—and their life partners—aligned?
- What skills or experience do they need to lead effectively?
Here’s the bottom line: leadership transitions will happen. The only question is whether your business will be ready when it does.
Succession planning isn’t a box to check on the way out. It’s a lever to pull while you’re still in the game. Start now, build the bench, and design a company that outlasts you.
That’s not just smart planning—it’s good business.
John Gross is an EOS Implementer who helps businesses achieve Vision, Traction, and Healthy. You can contact John at John@ DrivingChangeInc.com or call 636.667.0579.