Cries
of ‘the business won’t survive without me’, or ‘how will they know what to do?’
are natural fears, and sometimes a facade for ‘what will I do without the business?’
but addressing them head-on not only sets the conditions for smooth transition
when the time comes, but also for higher performance in the interim. So the sooner
the fears are faced and the matter is addressed, the better for all concerned.
Engagement
through Sharing
You
take on staff and create layers of management as part of growth and evolution,
but they are also an early opportunity to begin teaching others your art. Identifying
lieutenants to mentor and showing them how you make the decisions you do can create
valuable, engaged deputies who are inside your mind and who you can
increasingly trust. Moreover, the whole discipline of articulating what you see
as important and how you operate helps rehearse systems that can eventually be
codified and enshrined.
And
good deputies are a solid investment in peace of mind; they provide cover, they
are either a potential successor or a source of important counsel to your eventual
successor, and they are organisational stability. Day to day, they allow you step
back from being the focal point of approval and direction, giving you space to work
on the business rather than in the business.
Clarity
of Purpose
But
the strongest organisations are also built around clarity of what they stand
for; their values have been extended into guiding principles for how everyone should
act when discretion prevails. For example, ‘Customer first’ is a value, but
‘what would the customer think?’ is a principle that provides an unambiguous reference
point for action and decision at every level. The distinction shapes the way
everyone contemplates, behaves, decides, and aligns; it establishes an
empowering doctrine that is centred on intent - enhancing agility and
engagement, whilst reducing the need for constant supervision and transforming a
hands-on culture.
Turning
this into proper heritage depends on how well the founding principles are
passed down, exemplified, and become ingrained as the business grows. But a
palpable depth of culture characterises companies, reinforces brand, and
fundamentally endures. It is potentially therefore your strongest legacy. You
cannot predict what challenges or opportunities lie ahead but if everyone is
rooted in the same guiding principles, you can be assured that the business is
as equipped to navigate through as you ever were.
So
seeing protégés flourish, reaching a point where you can lead through intent, and
trust in your doctrine are rungs to higher performance. Once climbed, they create
the confidence to run
the business rather than be
the business
and its gravitational centre. Looking back, they represent a gradual, positive
process of letting go of control without eroding the unique value of your gut
instincts that first brought success – and what you can still bring to the
board.
Getting the Best for your
Company
But
when you have been architect and instigator for an organisation, there is a
more profound attachment and protectionism. The paradox is that you want the
best for the company, but you feel the need to have your say. Creating succession enables you and your company
to have separate identities. You can continue to be associated heavily with the
company, but the company is no longer seen as intrinsically entwined with you.
Without this separation at some point, you have no way of stepping back and
your company will hit a ceiling on its growth potential, a ceiling created by
your bandwidth.
Your
continued advice, contribution, and patronage may indeed be desirable as
ownership shifts, but your ongoing presence can also be stifling if it is
through your push rather than organisational pull. At the end of the day, what
is best for the company is clarity, boundaries, and genuine sensitivity to what
the company wants.
And,
finally, how you will adapt without the business need not be a fear if you
deploy the skills that steered it successfully towards a vision early enough on
yourself. You are more than equipped.
Succession,
in any guise, comes with letting go and change. The real art is how well you have
anticipated and set the conditions to reduce its shock - to the business, and
to you.
Simon Carter is a Consultant with IDT sharing his broad experience and passion for strategic governance with colleagues and clients alike.
He acts as an NED to SMEs and a trustee to employee ownership structures. See more of Simon's background on 'Our Team' page
