During the past couple of years, we have had to become comfortable working from homed possibly look—while also trying to balance family life. This is quite a change for many who were used to their daily commute into the office, where they had a clear distinction between home and work life as a virtual boss.
When it comes to succession planning for your business, are you engaging in a sustainable long-term strategy, or just looking for a quick fix? In my experience, the best succession plans are those that take a proactive long-term view. I’ve identified some essential areas in which you simply MUST be prepared. Answer these 10 business succession planning questions to get a clearer picture of where your business falls on the readiness spectrum.
The time to start the succession planning process isn’t when you’re under the gun to find a new leader in a few months, or even weeks—it’s NOW, when you can take the time to be proactive, strategic and thorough. At minimum, this is a two year process, but having a longer term plan in place…3 to 5 years, is even more beneficial in an effective leadership transition. I’ve created six tips to guide the succession planning process as you look for the right candidate.
We’re all navigating a whole new world after the last two years of COVID-related business stresses. Many employees are learning to balance remote work and family demands, and of course many leaders are grappling with a workforce they only see on a screen. It’s hard all around. But I’ve learned over years of leading a family business and becoming a successful leadership keynote speaker, that your actions in times of crisis will come to define you as a leader.
As 2021 wraps up the remote workplace culture is no longer a temporary condition – as tired as we all are of hearing the phrase “the new normal,” it’s time to normalize remote working. Here are my five top tips for translating your current company culture to the virtual environment.
After 17 years in the pilot’s seat, the CEO of Southwest Airlines is stepping down to make way for his successor. What struck me most about this news was the fact that Gary Kelly’s succession plan includes his staying on as executive chairman—which means he’ll be on hand to ensure a smooth transition. Kelly’s mentorship will be priceless for his successor, Bob Jordan, once he’s free to move about his new role. Here are a few lessons I’ve learned from my own transition experiences.
Although it certainly didn’t feel like it at the time, I was incredibly lucky to take the reins of the family business at the tender age of 28, which enabled me to realize very quickly that I needed guidance from experienced outside sources. Because of that guidance, I was able to not only witness how to execute a successful business turnaround…but learn valuable lessons at every turn.
Nobody likes to think of themselves as a bad boss, but in my travels through the leadership keynote speaker world, I’ve met many current and aspiring leaders. And, whether they’re newly minted managers or seasoned C-suite types, it’s quite common for people to have a few blind spots around their own leadership styles. Here are some tips to help get you back on track.
In my travels on the succession planning keynote speaker circuit, I’ve begun to field questions about developing the next generation of leaders during this incredibly pivotal time as baby boomers exit the workforce in droves. It seems like just yesterday we were talking about Millennials entering the workforce, doesn’t it? Today, with the oldest in this massive and complex demographic turning 40, they’re on the verge of overtaking X-ers as the dominant generation. They’re established employees, managers and even company leaders. So it’s time to start thinking about how they see the world—and how these different views might impact your company’s culture.
The question of hiring best practices naturally comes up as I navigate the leadership keynote speaker circuit, and the age-old debate of “train vs. hire” is often at the heart of the discussion. Of course, there are pros and cons to either side, and here’s what worked—and what didn’t—for my business. I hope it helps you get your growing team on track!
The past 18 months have given us countless insights into the broad category of “unforeseen circumstances.” With this in mind, I wanted to cover the basics of two different but equally important plans—succession planning, creating a long-term strategy for leadership changes—along with having a strategy for disaster recovery planning.
During the past year, we have had to become comfortable working from home—while also trying to balance family life, care-taking, etc. While the recent pandemic has forced the issue for many, I have actually been working remotely with my team in the UK since 2010, when my family moved to Colorado. During that time, I’ve found that a hybrid model—partly in the office, party at home—truly does deliver the best of both worlds!
The Personal Side of Business Succession Planning It’s one of the most common pain points for my clients on the succession planning keynote speaker circuit: the leader who can’t stop leading. In a standard corporate transition, business is business. In the best of...
It’s a great time to be a succession planning keynote speaker—the working world has never needed our guidance more than it does now! But with more than 80 million baby boomers planning to retire before 2030, we’re about to face what might be the biggest knowledge gap in history.
When diving into the fundamentals of succession planning with prospective clients I meet on the succession planning keynote speaker circuit, I often compare the process to creating a last will and testament. After all, that’s essentially what it is: basic estate planning for one’s business.
Many of the people I meet on my succession planning retreats share a common complaint: strategy takes work! It can be incredibly difficult to tear oneself away from the day-to-day management of the business to focus time and resources on what feels like a theoretical future.
As a consultant and succession planning keynote speaker, I often take it for granted that business owners know what it is, and why it is important. However, several recent virtual conversations with groups of business owners made me realize that this is not the case—so I thought this might be a good time to revisit some succession planning fundamentals.
I have come across an assessment tool that could be a game changer when looking to promote or hire new talent into a key role in your organization. It is called pymetrics, and is an Ai based assessment tool which helps you find the best fit for any particular role. It was developed by Frida Polli PhD; an academic neuroscientist from Harvard and MIT turned entrepreneur.
I recently read this excellent article by David Lancefield in the Harvard Business Review and it made me think about an important principle during times of high stress, that of self-care.
There’s nothing like a legitimate crisis for teaching business leaders what they’re really made of. As someone whose early days in the family business were defined by crisis leadership, I could not agree more. But I didn’t do it alone. In my case, the crisis leadership in question was delivered by my mentor, business turnaround specialist Frank.
If there’s a small silver lining to the COVID-19 pandemic, it’s the opportunity that many companies have had to make their operations remote.