Rigidity is the Enemy of Succession Planning

When Scott’s fourth-generation family business leaders started taking regular time off for hunting, fishing, and travel, their competitors may have thought they were crazy.

But there was a method to this seeming madness.

Their intentional absences created something invaluable: margin for growth.

This brings us to Succession Planning Pitfall #6: The failure to leave enough margin in your plan to take advantage of new and unexpected opportunities.

Rigidity is the enemy of growth.

Creating Space for Magic to Happen

The most successful multi-generational businesses understand that starting succession planning early isn’t just about preparing for an eventual handoff - it’s about creating space for magic to happen.

Here’s what early planning provides:

1. Room for Course Corrections

Like a ship setting out on a long journey, your initial heading might be perfect, but winds change. Early planning gives you:

• Time to adjust strategies that aren’t working
• Opportunity to test different approaches
• Freedom to learn from mistakes without catastrophic consequences

1. Leadership Development Flexibility

When you start early, you can:

• Develop multiple succession candidates
• Allow potential leaders to rotate through different roles
• Create opportunities for emerging leaders to prove themselves

1. Market Adaptability

Business landscapes change rapidly. Early planning provides:

• Flexibility to respond to market shifts
• Space to align leadership development with evolving business needs
• Opportunity to pivot without panic
• Time to build relationships with key stakeholders

Creating Intentional Margin

How do you build this crucial flexibility into your succession plan? Here are four key strategies:

1. Start Earlier Than You Think You Need To- Begin succession discussions while they still feel premature- Create space for natural leadership emergence- Allow time for multiple iterations of your plan

1. Build in Regular Review Points- Schedule quarterly plan reviews- Adjust timelines based on progress- Remain open to new opportunities and challenges

1. Develop Multiple Leaders- Create a deep bench of potential successors- Allow for different leadership styles and approaches- Build redundancy in key positions- Practice Intentional Absence

Like Scott’s family business, create opportunities for next-generation leaders to:

• Make decisions independently
• Learn from both successes and failures
• Develop their own leadership style
• Build confidence gradually

The Magic of Margin

One of our clients experienced a 50% growth in revenue because they had this kind of margin in their planning. A second client had a similar experience, being able to seize opportunity.

When you leave enough margin in your succession plan, something remarkable happens: opportunities you never imagined begin to emerge.

New leaders step up in unexpected ways. Innovation flourishes. The business becomes more adaptable, more resilient, and ultimately more successful.

Remember: Your succession plan shouldn’t be a straitjacket - it should be a springboard for growth.

The Choice Is Yours

Are you ready to build margin into your succession plan? Start by asking yourself: “Am I creating space for the unexpected, or am I holding on so tightly that I’m strangling opportunity?”

Your legacy depends on your answer.

Harry T. Jones

Ready to build more flexibility into your succession plan? Let’s talk about creating margin for growth in your business. Email me at [email protected] to learn more about our succession planning process.