While it may seem obvious that family businesses should prepare for a succession event, it's not always the case. In fact, until recently, most family businesses did not have any succession plans in place. As one can understand, planning for the transfer of power is extremely important. Although this is a long process that involves developing talent across the workforce, a good way to kick off the succession planning process is to review the key functional areas in one's company and create a basic succession plan for those areas. Using a succession planning template can greatly aid in this endeavor. Not only does it enable frank communication about succession plan, a succession planning template helps to visualize what can be an overwhelming subject. All in all, it is essential that family businesses address the issue of succession in all areas of the business and utilize templates that make understanding the process easier for all parties.
Color selection plays an important role in your project plan design. Beyond making your project plan look nice, color can also help you organize and communicate information effectively. Multiple studies have found that people tend to remember images better than words. With that in mind, look for ways to incorporate visual memory_prompters in your project plan design. Icons are one type of visual that can be used to make information more memorable. Pair an icon with an important piece of text to help it stand out and stick in the reader’s mind.