Recipe #6: Passing the Baton (The “Runner’s Box” Secret)

At 71, Lindsey Graham was young by today’s standards. One day he was in the office, and the next, he was gone.

Part 6 of the 7-week “Recipe for Executing a Succession Plan” series

A few weeks ago, the world was shaken by the sudden passing of Lindsey Graham.

He was a fixture, everywhere, active, and leading his team at full tilt. At 71, he was young by today’s standards. One day he was in the office, and the next, he was gone. It was a stark, sobering reminder: 

We are not promised tomorrow.

I recently met with a young man whose father died unexpectedly on the operating table during what should have been a routine surgery. The son, who had a successful career of his own, suddenly found himself the executor of a business (with a mess of debt) he didn’t even know he was supposed to lead. 

But even more stressing, he learned there were seven other family members who each owned 12% but had zero interest in the work.

You can feel his pain, right?

The lesson? If you wait until you have to pass the baton, it may already be dropped.

The best finishing well recipes call for passing the baton while you are still running at maximum speed.

The Key Ingredients: The Handoff (while you are still running at maximum speed)

In a relay race, the most dangerous part isn’t the running; it’s the handoff. It happens in a specific zone called the “runner’s box.” If you try to hand off before the box, you’re disqualified. If you wait until after, the baton hits the dirt.

Here is the recipe for a clean handoff:

✅ Maximum Trust (The Power of Absence): You cannot build trust if you are always standing over your team’s shoulders. Part of trust-building is your willingness to be absent. If the business can’t run for a week without you, you haven’t handed off anything; you’ve just extended the leash.

✅ Maximum Speed: A handoff works best when both the outgoing leader and the successor are running at full speed. Don’t slow down and wait for them to catch up. Pull them up to your pace, then let go. This is for the benefit of every stakeholder—employees, customers, and your legacy.

✅ Stay in Your Lane: Once the baton is out of your hand, your role changes. You move from “Commander in Chief” to “Encourager in Chief.” You become the counselor, the backup for a crisis, and the person who delights in seeing the next generation win.

The Measurements and Timing: Deadlines Drive Decisions

Setting some deadlines and telling them is a large ingredient in the recipe for succession. It isn’t an open-ended “someday” project. It requires a clock.

• Start Early to Create Options: Starting early gives you the luxury of a Plan B. Things don’t always go as planned—a successor might decide they don’t want the role, or health might intervene. Time is the only ingredient you can’t buy more of.

• The “Snooping Privileges” Clause: If you are financing the sale of the business to your successor, you can maintain what one founder calls “snooping privileges.” As long as they owe you money, you keep a seat at the table to ensure the values that built the company stay intact.

The Secret Ingredient: The Vote of Confidence

The greatest gift you can give your team during transition may not be advice. It may be your absence!

One CEO I know heads to the mountains every summer. Every Tuesday afternoon, he is on the golf course or the water. He tells his team, “Call me if you need me, but I’m gone for the next eight weeks.”

This isn’t him being lazy. It is a massive vote of confidence in the team he has trained, forcing them to make decisions, to lead, and to grow. If you want to know if your succession plan is working, take a vacation. If the building is still standing when you get back, you’re winning.

Great leadership shows up in your absence, not in your presence.

I often see entrepreneurs get distracted by the “next shiny thing” just as they should be focusing on the handoff. I call it the principle of the mule. A mule isn’t fast, but it is strong and steady.

This succession recipe requires meekness—which is really just strength under control. It takes a strong leader to step back and let someone else take the credit. Like my friend Earl, who ran his businesses for 42 years. He knew when he was no longer having fun, it was time to go. He had partners steeped in his values, and he had the grace to step out while he was still in good health to enjoy the beach house he’d worked so hard for.

Action Steps: Start cooking This Week

✅ Set a Hard Deadline: Deadlines drive decisions. Pick a date for a next step in your transition and put it on the calendar. Tell your board, your family, and your successor.

✅ Identify Your “Two Things”: What are two things you are doing right now that someone else could do better? Delegate them this week. Elevate yourself by elevating others.

✅ Start the Conversation: Succession starts with a talk, not a contract. Ask your key employees:

“Who is interested in the future of this company?” You might be surprised by who raises their hand.

Next week: Recipe #7 – The Final Handoff (Finishing Well)

P.S. We are on a mission to help 100 founders execute a succession plan and finish well. If you’re ready to move from President to Chairman and ensure your business thrives without you, we have two spots available in our Finishing Well Breakthrough Groups. Click here to learn more.