The leadership legacy: 5 myths on the planning of the succession that could cost everything
Let me share something that I have learned after decades of working with leaders: its greatest achievement is not just building a business, it is to ensure that it survives its leadership.
“It’s just retirement”: the leadership continuity myth Friends, succession planning is about continuity of leadership, not just their output strategy. Think about it how to build a bridge for the future of your organization. Do not plan to leave, you are planning to lead well, even after you have gone.
“Only large companies need this” – the deception of size Listen carefully: size does not determine the need for succession, impact does. Whether you are directing a family business or a growing company, the future of your organization depends on prepared leadership. Small businesses often need this more urgently because they have fewer backup options.
“One and Done Works” – The fallacy of the static plan Here is a truth that I have seen repeatedly play: succession planning is a trip, not a destination. Your business evolves, its people grow and your plan must keep the pace. Static plans become rancid plans.
“Letting go means losing control” – The myth of power Let me be clear about something: the transition of leadership is not about losing control, it is about multiplying influence. It can structure delivery to maintain strategic participation while empowering new leaders. That is what I call the law of legacy in action.
“There is a lot of time” – the procrastination trap This could be the most expensive myth of all. Leadership transitions rarely expect a convenient moment. Starting early is not just prudent, it’s powerful. It gives you time to develop leaders who understand both their values and their vision.
Remember: your business deserves more than survival, it deserves the success of succession. The biggest leadership act is to prepare the next generation to lead.
Contact: tim.fawcett@aestwindinc.ca | (506) 872 2900
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