Succession planning is an important activity for continuing businesses without which organizations starts fading out due to absence of leaders who can lead the organization after the successfull leader. In this article a five step process of succession planning is discussed and provides guidelines for organizations to think in the direction of succession planning. The five steps begin with identify critical positions that can shape the organization, identify competencies of incumbent leaders, identify strategies of succession planning, document and implement succesion plan, evaluate the effectiveness of the process and the leader. This process can be equally applicable in small, medium and large organizations with appropriate modification to the context.