Succession planning is often a process which is given very little attention while the day to day operations take precedent in running a business.
The bottom line is: do you have the right people in the right roles? Have they been mentored and coached sufficiently? Are your staff adequately trained to do their jobs? Do the company’s processes run the company, or is it run by the well-intentioned but unpredictable whims of the managers and employees? Can you take a vacation without checking in every day? Do you take your smartphone with you everywhere you go? If you were to become disabled or die prematurely, would your business survive?
The reality of the situation is, no-one should be indispensable, therefore proper structures need to be implemented to ensure succession planning processes and procedures are effectively put in place, ensuring the longevity of your business.