Creating a succession plan that will be followed through with is a team effort involving you, your family and any other business partners. Engage your family in this process and develop an “our,” rather than a “my,” succession plan. To do this you need to show your family/partners the fundamental respect of asking what they want and begin developing a plan around those issues upon which you can progressively find agreement.
By including your family and business partner’s thoughts, feelings, input, and feedback into the succession plan, you will greatly increase the chance that it will be followed when you are no longer around to enforce it.
