Some of you may have business partners outside of your significant others (ex. spouse or life partner). If you do not have a business partner, feel free to skip ahead to Involving Your Family.
It’s important that you and your business partner(s) 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.
Assignment
Use the questions in the Workbook to help discuss succession planning with your business partner(s) and record notes from your conversation in your Workbook.
Next Step
If you have not discussed succession planning with your business partner(s) yet, continue to the next topic. If you and your business partner(s) have already discussed succession planning and they are not yet committed to it, continue the steps until you reach Helping Your Business Partner Commit.
