It’s important that you and your business partner are on the same page about succession planning. You can’t do it without their commitment. The Jack family struggled with that exact thing so watching that video might give you some good context.

 

View the Jack family video

Episode 4: The Jack family took three years to get a succession plan in place because the three siblings operating the farm weren’t all committed to planning for succession early. They show the importance of doing it early. Dennis Jack also talks about letting go of the reins.

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Assignment

I have already discussed succession planning with my business partner and s/he is committed to going through the process.

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Partner Check

If you have not discussed succession planning with your business partner yet, continue on to the next topic which should help. If you and your business partner have already discussed succession planning and s/he is not yet committed to it, continue the steps until you reach Helping Your Business Partner Commit.