Whether you're passing it on to family, a trusted executive, or a new owner, the process of succession planning is not just important, it's essential to your legacy. I've learned that the only way you will have a good transfer is if there are trained people in place with a strong plan. Here's what I've learned about the succession process and how you can manage yours when the time comes. Related: 70 Small Business Ideas to Start in 2025Prepare for the unexpectedEven the best-laid succession plans can hit unexpected bumps. Be honest with yourself and your leadership team about what's working and what isn't.