It is a universally acknowledged truth that any regent is in need of a plan of succession, whether their kingdom be a European monarchy or a businessman and his sole proprietorship company. Assassins, sorcery, and choking hazards lurk around every corner.
Happily though, your succession can be handled with the kind of grace and certainty that you will never find in a George R.R. Martin novel. All successions, be they abdication, a fragile constitution, or murder-most-foul, can be planned with the same basic steps.
Whom: The first question, which you have likely already considered, is to whom the line of succession falls. The oldest male scion may be traditional, but the best decision is rarely so simple. While ownership may need to stay in the family, should leadership pass with it? Think about who the best leader is, the one with the most knowledge and experience that they can bring to the position. Do they even want the position?
You should also think about the next leader too, in case that first person isn’t available when the time comes, or if they can’t accept it. Hopefully you’ll choose when to abdicate, but you may need someone to assume command in an emergency. The future is murky and unknowable and it pays to have planned for any eventuality.
For the business leader, you may consider promoting a good employee to the position. Alternatively, you may want to write the conditions and qualifications into the operating agreement so that your agents have your advice at hand in any circumstances.
When: Second, when should you make the transition? Quite obviously you should have at least the basic structure of a plan in place for the aforementioned surprises.
However, in a planned exit, what would you prefer to do? Would you like to slowly give up pieces over time while retaining some control or have a quick clean break? At what age would you plan to retire, or would you prefer to retain your authority until it is pried from your lifeless corpse?
How: Now that you’ve planned who and when, you can think about the structure of the transition more closely. Are there training or documentation requirements that are needed to effect a competent egress?
Think through things from your point of view, and from the point of view of someone coming into the position. Do they know the right people? Or what to do in rare situations? Is all the information written and accessible? Do they have the code to the secret recipe safe or the vault for the crown jewels?
Setting these goals should make any transition, planned or unplanned, significantly smoother. Succession is important, not just to you but to the entire entity, be it corporation or country. Your family and your vassals will be greatly relieved to know that they are well planned for.
Tags: weirdly funny