Business Owners Lead with a Succession Plan in Mind
BUSINESS EXIT STRATEGY INCLUDES DEVELOPING LEADERS
Have you ever considered what would happen to your business if you weren’t there for 60 days? What about six months? Great leaders are mature in their thinking and have a succession plan before it’s time to leave. They have created a culture of interdependency and have developed leaders that can lead themselves. Additionally, creating a bullet proof management strategy, enables your organization to be more productive.
Develop Leaders That Carry Your Vision Forward
As a great leader you know the critical leader role that you have in the organization. As an empowered leader you know “what” you are doing, “why” you are doing it and “where” you fit into the mission. You know the cues that activate magical team performance and you have a deep sense of purpose that is abundantly clear to your team.
When you do one particular thing for a length of time people don’t think about how hard your job is because you make it look so easy. Have you considered that clinging to your expert leadership identity, can cause the team to become inefficient? Staying in one place for a long time makes the team revolve around the leader and not the organizations mission.
When you are taken away from your primary responsibilities for whatever reason, make sure that you have key people that can do what you do. Will they do it exactly the way that you have done it? More than likely not, they have their own vision. Some business leaders become fearful that their stand-in can do it better. This isn’t the case with legacy minded leaders however. They realize that in order for the company to thrive when they leave it, they need to cultivate up and coming leaders.
Action Taking Questions to Ask Yourself
1. What is my strategic presence in the organization?
2. Where do I make the biggest contribution in the organization?
3. How can I share responsibility with key team members?
Consider replacing yourself in the area that is most critical. I’m not talking about immediately, but long term, think about what your business will look like when you leave it. Will there be someone that can fill those critical roles? Contemplate on the thought, “the greater the leader the weaker the organization.”
RECALIBRATE >> RESTART >> THRIVE