The Succession Gap: Spot It Before It Costs You Your Company

As a Strategic Leadership Coach, who researched family business succession for my doctorate, I know a thing or two about succession.

Somewhere deep on the sled dog trails in the wilds of Alaska, I once handed the reins of my dog sled team to a young musher-in-training. I watched from behind as they navigated a sharp turn, the team surging forward into a whiteout. I wanted to call out instructions, but I didn’t. They had to learn to lead without me. This was my daughter, Nicole.

That’s succession in real life. And in business, it’s no less critical.

What Is the Succession Gap?

Every leader has a succession gap, the distance between where your next leader is today and where they need to be when you eventually (or suddenly) hand over the reins.

The gap is easy to ignore when you’re in the thick of operations, running things day to day. But it’s costly when ignored. You can close it now, with intention. Or you can be forced to close it under pressure, when illness, family needs, burnout, or opportunity pulls you away.

Red Flags You Might Be Ignoring

Most founders and senior leaders think, “I’ll deal with succession planning later.” But if any of the following sound familiar, your business is already at risk:

You avoid taking extended time off because “things might fall apart.”
Your leadership knowledge exists only in your head.
Your successor (or second-in-command) relies on you for all key decisions.

The cost? Burnout. Bottlenecks. And eventually, breakdown.

How to Close the Gap Now

Succession isn’t just about choosing a name to fill your role. It’s a leadership development strategy, and it takes time to get right. Here’s how to start closing the gap today:

Assign High-Stakes Projects

Give your successor full ownership of a strategic initiative, start to finish. Let them lead, problem-solve, and even fail. Then debrief, coach, and repeat.

Step Back from Operations: Temporarily

Give them the reins for a week while you step back. See what breaks. See what works. You’ll learn a lot about their readiness and your systems.

Document What You Know

Transfer critical knowledge from your head to systems. This includes SOPs, decision frameworks, contact relationships, and even the soft skills you use to lead your team through conflict or change.

Coach, Don’t Direct

Shift from being the fixer to being the coach. Ask more questions than you answer. Let your successor think through challenges, even if it’s slower.

Ask Yourself This:

If you had to step away tomorrow, how ready is your business?

Succession is the trail most leaders avoid until the last moment. But like mushing in a blizzard, you don’t wait for perfect visibility to move forward. You lead with trust, preparation, and a willingness to give others the chance to rise.

Ready to Close the Gap?

I work with founders and senior leaders who want to build sustainable leadership in their business and their lives. Whether you’re training the next in command or considering a complete transition, I can help you create a succession strategy that works in the real world.

Schedule a free strategy call here