If you spend one hour a day in the study of leadership it will enable you to successfully develop and run your business or corporation while adding tremendous value to the employees/team members and those you serve with your products or services. However, that leadership should lead you to develop a comprehensive contingency and succession plan before it is too late to do so and you lose the legacy of your business. I did not have a succession plan in my first business and I am shocked to find that most businesses don’t have succession plans for their company, departments or divisions and others don’t have contingency or succession plans.
Your company, division or department is never too small to have a succession and contingency plan. Succession and contingency plans make the difference between a successful business, division or department being able to continue successfully, ending in a successful sale or ending without a legacy. Do not wait for the hard knocks before you develop succession and contingency plans because you may lose some or all of what you have worked for in the process. If you develop well thought out succession and contingency plans they will enable you to reach your full potential and protect those you love and serve.
