. >> regardless of whether you're planning for that or planning for grouk, you should effective willty same plan in place. >> what does it mean to have a succession plan? >> it's really just -- or succession plaing in general is developing leaders at every level of an organization. on a very basic level, success planning is two things. one is identifying people with leadership potential and, two is developing that potential. >> is it about saying one day i'm not going to be here and joe is going to be in charge? is it actually pointing to the person who's going to take over for you, or is it saying here are a group of people and any one of them could take charge? >> yeah. and i think that's a mistake that a lot of companies make is that they only -- they anoint one person to be their successor, and that can be a problem if something happens to that successor. it's the latter, j.j. it's selecting and developing a group of individuals who can step in and take in at various times. >> what are the biggest mistakes people make when thinking about this? >> i think the most obvious mistake th