It is sunny and beautiful Thursday before a four-day holiday weekend. You and your leadership team have come out of staff meeting laughing, joking, and sharing travel plans. Bob, your Operations Leader, is traveling with his family to their cabin. They are planning to go fishing, water skiing, and chill by the campfire and watch the sunset.

Monday night, you receive a call from Bob's wife in tears, there has been a terrible car accident, and Bob did not make it. You go into shock, tears, and ask if the rest of the family is OK. You offer your support, help the family as much as you can. You can not sleep as you recall how much Bob meant to his family, you, and the business.

Tuesday morning, you call an all-employee meeting to share the bad news. The staff is in shock and offer support to the family. You now need to fill your role, and that of Bob's position as you once ran the operations. The next month or two is challenging. Staff is unsure of what is going to happen. You have been away from operations so long that technology and processes are not what you remember. Customers are beginning to see late deliveries, poor quality, and the sales team is losing confidence.

You realize you can not do both jobs and need to find an Operations leader. You go to HR to read past employee reviews to find everyone is terrific to realize that is not the case. Stress is building, the fun is gone, the pressure is mounting, and other key people are beginning to leave.

Stories like this happen all too often. How could this tragic situation that changed your business have been different? You, as the business owner, are accountable to manage this risk on your business. Have a plan in place, so if something happens, you go to the plan and execute.

Keys to Successful planning:

Identify all critical roles in your business, not only leaders.

• Jimmy in receiving that has been there for 25 years may be key
• Jane in Billing who knows the system inside an out

Have 1-2 people identified to backfill the key roles

• Due to promotion
• Retirement
• Accidents, illness, departures, divorce, etc.

Provide the "Next in Line" with opportunities to learn and grow

• Task them with projects outside of their regular job duties
• Have them present at higher level meetings
• Let them be your back up while traveling or on vacation
• Let them know it is ok to make mistakes and have their back

Review the plan at least once per year and keep updated

If you knew that Bob's next in line was Joan, and involved in the strategic and tactical running of operations, you could have put her in the position right away. What impact would that have across the company, customers, and for yourself? Now you become a leader and mentor to Joan just as you were to Bob. You begin the journey together and develop a relationship and trust. You are keeping customers happy. You remove the uncertainty for the employees. You instill confidence in the team that when adversity hits your ready for anything!

Too many owners avoid Succession Planning because a scenario like this it will never happen to them until it does!

If you are unsure of where to go with your succession planning, it's okay, you're not alone. It's why we're here; let's have a conversation to get your business succession plan in motion.

Be prepared; it's smart business!