Business Coaching Blog
Success and Succession
Tuesday, September 6th, 2016
Close Brothers’ research shows that 4 of the top 10 worries for owner-managed businesses relate to developing the people to take over your business.
The good news is that most businesses already have the right people to hand. The bad news is that most business owners don’t know how to develop a high-performance management team and don’t start thinking about this until it is too late.
Do you have clear succession plans for your business?
An established team to replace you or well on the way to developing one?
When I work with clients to develop their top team it often involves working with the next family generation. It always involves helping my client to get more out of the people they already have and more out of themselves. The barrier to succession is not usually lack of able and willing employees, but the owner’s own hesitation about delegation and letting go.
When you start to develop other people to run your business you are forced to address its weaknesses and face up to its inconsistencies. You suddenly have another set of opinions on strategy, and challenges to the way things are done. Your job becomes more about building the team than about making all the decisions.
Isn’t that what business is supposed to be like?
If you want to start to develop your key people into a management team that can support you now, drive better business performance, and eventually take over from you then this event is for you.