Why Succession Planning is Your Most Important Leadership Strategy

by Ashley Russo

When I first stepped into leadership, I was building something brand new—ASR Media, a creative production company founded in 2012, while producing The PEAK TV in partnership with St. Luke’s University Health Network. I had fallen in love with storytelling and felt called to share powerful, purpose-driven stories about our community.

Years later, in 2019, I stepped into a very different kind of leadership role—one shaped by heritage and responsibility. My family’s business, Magnaplate, was founded by my grandfather in 1952. After decades of observing from the sidelines, I took on an active role in its operations and long-term planning.

Leading both companies in tandem—one a fast-paced, founder-led creative agency, the other a multigenerational manufacturing business—taught me a critical lesson: no matter how passionate or capable you are, a business cannot thrive if its success depends solely on you.

Though I spent childhood summers helping out at Magnaplate—shredding marketing materials, walking the factory floor, and tagging along to trade shows—it wasn’t until I had grown ASR Media into a thriving team that I truly understood what it meant to nurture a business beyond your own leadership.

That contrast between founding and inheriting gave me a unique perspective. Building one business from scratch and stewarding another with decades of history forced me to think deeply about continuity, growth, and long-term leadership—especially when I realized that the future of both would depend on more than just me.

Building and leading ASR Media while honing my role at Magnaplate has reinforced for me the value of preparing the next generation of leaders, fostering collaboration, and ensuring that the mission and vision of any organization can thrive beyond my own tenure. That required intentional planning, foresight, and the strategic development of a business succession plan.

With that perspective, I’ve distilled the key lessons I’ve learned about succession planning into actionable tips for any person or organization looking to build lasting success.

Succession planning should begin as soon as you start scaling your business. Don’t wait for a crisis to force tough decisions.

Transitioning from a founder’s mindset to a legacy leader demands intentionality, foresight, and a commitment to nurturing the next generation of leaders.

For me, this meant looking at the company as a whole and asking hard questions: Which processes are essential to preserve? Where does innovation need to take root? Who on my team has the potential to grow into roles of greater responsibility?

By creating transparency, encouraging open dialogue, and fostering trust, I built an environment where team members felt empowered to contribute ideas, take risks, and step into leadership.

Succession planning is more than identifying who might step into a role. It’s about preparing them to succeed.

That means having clear development paths, regular coaching, one-on-one meetings, and even retreats to help future leaders understand how decisions are made and operations run. At the same time, it’s essential to empower your team to speak up, take risks, and make decisions on their own.

Leadership thrives in an environment where structure meets trust.

Spot the potential in your employees and guide them. By nurturing talent early, you can ensure your team is ready to step up when the time comes.

I’ve learned that different skillsets and personalities can create incredible leadership cohesion. One of my earliest hires grew into the role of president. Our approaches are different, but they complement each other perfectly.

Investing in your people is the key to building strong, sustainable leadership for the future.

True succession planning requires taking a step back from the daily hustle and only works if you give future leaders space to take ownership.

Early in ASR Media’s growth, I was fully immersed in the work, driven by passion and urgency. I realized that thinking only in the moment wasn’t sustainable. Once I took a step back, I was able to apply structure and processes, consider the long-term viability of the business, and give my team the space they needed to grow.

The most rewarding part of what I do is watching others do it better than I could. That’s what drives me.

Succession planning is a mindset. Start early, embed growth into your strategy, mentor your team, and step back to let others lead. Doing this ensures your business not only survives, but it thrives. Blending lessons from a legacy company with the energy of a growing business has taught me that thoughtful succession planning lets your vision, values, and innovation flourish long after you’ve moved on. That’s a legacy worth leaving.

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