Don’t let your organization die when the founder graduates or moves on. Learn how to pass the reigns to a new generation of managers, and ensure that they will continue to make a difference (and even grow) for years to come.

Succession Planning

1. Is your brand strong? Your brand should be extremely solid before you can even think about leaving. Have you nailed the 5 elements of a strong brand? Unique, Relevant, Simple, Truthful, Consistent.
2. Do you have enough money in the bank for one year? Funding is often tied to the leader—and when that leader leaves, so does the money. Make sure your organization is going to be solvent for at least a year. That means cash in the bank to cover expenses projected for a year.
3. Don’t leave without a successor in place. “Peace out” is not a succession strategy. It’s organizational murder.
4. Make sure you have a strong Board of Directors in place. No matter how awesome you are, you can’t do this alone…and cloning still isn’t perfected. You need a group of really engaged people, with clear expectations and responsibilities, attending regular meetings to help you manage this growth.
5. Tell your Board of Directors. Yup. Give them notice—and it should be more than 2 weeks. Give them a good 3 months, if you can.
6. The board should determine the succession process. You might want to just appoint your little sister or your amazing Vice President, but the board should really take ownership of this process and pick the new leader after a careful selection process. Options include an election, an appointed successor, creating a “search committee” to interview candidates, etc.
7. With the Board of Directors, determine an “end” date. Not less than 3 weeks, not more than 3 months. When is your last day? And then really stick to it. Don’t be that ghost lurking in the shadows.
8. With the Board of Directors, determine what your new role will be. Will you be a member of the Board? Will you make a clean break?
9. Create a transition memo. t should include passwords, processes, and even less formal and objective things likes tips on how to work with certain partners, etc.
10. Send out a positive exit letter that lists your accomplishments and introduces the new person with enthusiasm. This will help ensure a smooth transition. Send it at least a week before you leave.
11. After your end date, go radio silent for a period of time. Give your successor a chance to own things. If you are on the Board, skip the first couple of meetings. Really let the new person lead.