How do you know when it’s time to step aside and make room for a new generation of leaders? And what’s the best way to handle the transition?

Fail early, fail often, fail forward. As most experiments fail, real progress requires trying out tons of ideas, decreasing the lag time between attempts and increasing the knowledge gained from results.” -Dominic Basulto, Silicon Valley guru

As you face your transition, you need to encourage your people to think differently. The focus needs to be less on winning and more on looking for new opportunities that may in fact be unsuccessful.

If you can’t effectively train both your successors and your customers to transact business without you, you will never be able to leave your business.

It’s important not to fall into the “that’s the way we’ve always done it” mentality, or worse, a “that’s not our business” attitude during a transition.