Business Succession Planning

Course Overview

The loss of valuable leadership can cripple a company. Business succession planning is
essentially preparing successors to take on vital leadership roles when the need arises. It is
essential to the long-term survival of a company. Every company should have a form of succession
planning in its portfolio as it is not the expected absences that can cripple a company, but the
unexpected ones.
Whether it is preparing someone to take over a position of leadership in a corporation, or the sole
proprietor of a small business Business Succession Planning will teach you the difference between
succession planning and mere replacement planning. How you prepare people to take on the
responsibilities of leadership so that the company thrives in the transition is just as important as picking
the right person for the job.

Objectives

• Define business succession planning and its role in your company.
• Lay the groundwork to develop a succession plan.
• The importance of mentorship.
• Define and use a SWOT analysis to set goals.
• Create a plan, assign roles, and execute the plan.
• Communicate to develop support and manage change.
• Anticipate Obstacles and evaluate and adapt goals and plans.
• Characterize Success

Curriculum  

Module One: Getting Started
Workshop Objectives

Module Two: Success Planning vs Replacement Planning
What is Business Succession Planning?
What Is Replacement Planning?
Differences Between
Deciding What You Need

Module Three: Preparing the Planning Process
How to Set Parameters for the Planning Process
Should You Establish a Committee?
How to Gather Operational Data

Module Four: Initiating Process
Develop a Mission Statement
Develop a Vision Statement
Choosing to Be a Mentor

Module Five: The SWOT Analysis
Identifying Strengths
Identifying Weaknesses
Identifying Opportunities
Identifying Threats

Module Six: Developing the Succession Plan
Prioritize What the Succession Plan Will Address
Set Goals and Objectives
Develop a Strategy for Achieving Goals
Draft the Plan

Module Seven: Executing the Plan
Assign Responsibility and Authority
Establish a Monitoring System
Identifying Paths
Choosing Your Final Approach

Module Eight: Gaining Support
Developing a Change Management Plan
Developing a Communication Plan
Implementing the Plans
Providing Constructive Criticism
Encouraging Growth and Development

Module Nine: Managing the Change
Developing a Change Management Plan
Developing a Communication Plan
Implementing the Plans
Providing Constructive Criticism
Encouraging Growth and Development

Module Ten: Overcoming Roadblocks
Common Obstacles
Re-Evaluating Goals
Focusing on Progress

Module Eleven: Reaching the End
How to Know When You’ve Achieved Success
Transitioning
Wrapping it All Up

Module Twelve: Wrapping Up
Words from the Wise