Succession Planning
- Category: Publications
- Published: Wednesday, January 29 2020 09:37
- Written by Super User
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Building a business is a lifetime's work for most people.
Until you've lived the rollercoaster ride of keeping this organization you created alive and headed in the right direction, you don't understand what a commitment it is. Just like having a child - you can't ignore it, can't delegate it - it's there constantly, demanding your attention and needing your energy to maintain itself. It can be daunting, and is not for the faint of heart.
Or that's how a lot of businesses exist anyways. The good news is it doesn't have to be like that. We use a little known set of tools and philosophies at BR called the Adizes Lifecycle Methodology, which describes businesses at the various stages of existence, from birth of the initial idea through to eventual death. Along this curve exist specific, defined points with defined characteristics which can be identified and used to define not just the state of the business as it exists at the time of analysis, but the steps needed to either take it forward to a self sustaining state, or backwards from a state of sclerosis and death.
When we look at a business, we see a set of interlinked systems, driven by people and purpose. Understanding the human components of the system is essential to any credible plan of action for short and / or long term strategy development, and the owners of the business occupy a unique position in this system. They are the original seed, the genesis of the idea that started the organization in the first place. So, what happens if they've been happily steering the organization for decades, and they approach inevitable life changes as they age?
BR is skilled in executive coaching. Lee is qualified in executive coaching from Corporate Coach University (2003) and has been coaching as a mainstay of work since then. We have worked with business owners to develop holistic strategies for their businesses as they drive towards an exit strategy. A lot of consulting companies do this work, and do a fine job, but the BR approach is much deeper and more complete. We encompass all aspects of the organization, the people involved and co develop a workable transition plan based on what the organization needs at that specific point in its lifecycle. This is not just picking a successor to the owner. This is figuring out what the organization needs at all levels and developing an integrated plan to achieve that in the timeframe desired and necessary.