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How to Stand Out as a Leader in Succession Planning
Within the next 10 years Boomers will have all but handed over the reins of corporate leadership to succeeding generations. Whether you’re running a family business or joining the ranks of a public enterprise, more than 75% of the workforce will be Millennials. This is likely the biggest leadership handover the corporate world has seen to date, and companies large and small are wisely making preparations. I’ve been working with my clients to create unique strategies that work within the realms of their family businesses – here are six strategies on how to stand out as a leader.
4 Tips for Developing Your Company’s Future
As a succession planning keynote speaker and author, I talk a lot about Millennials in the marketplace, who comprise half the current U.S. workforce and expected to reach 75% over the next five years. But recently, I’ve begun to field questions about preparing the next generation of leaders during this incredibly pivotal time. Today, with the oldest in this massive and complex demographic turning 40, and already exploring the upper echelons of leadership, the NEXT generation of leaders are just now entering the workforce.
Lessons from the British Royal Family About Long-term Succession Planning
Watching the pomp and circumstance that the British do so well, I was struck by how perfectly organized everything was down to the minutest detail. This does not happen without a lot of forward planning, preparation, and practice. When I am speaking as a succession planning keynote speaker or advising a coaching client about the future leadership of their business, I always tell them that starting early and planning long term are crucial for a smooth transition from one generation to the next.
Leadership During Crisis: 7 Qualities That Make a Survivor
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. The leadership during adversity in question was delivered by my mentor, business turnaround specialist Frank
Rise of the Virtual Boss: 5 Tips for Effective Remote Leadership
During the past couple of years, we have had to become comfortable working from home—while also trying to balance family life, and possibly looking after someone who has been sick or has become more vulnerable. 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.
10 Succession Planning Questions to Ask Yourself Today
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.
6 Tips to An Effective Leadership Transition
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.
Positive Leadership: Three Common Scenarios + How They Boost Employee Retention
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.
5 Tips for Adapting Your Company Culture to the Remote Work Environment
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.
Business Continuity Planning: 7 Tips for a Smooth Transition
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.
Succession Planning in the Generational Shift
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.
10 Tips for Surviving in a Business Turnaround
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.
7 Signs You’re a Bad Boss
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.
Train vs. Hire: How to Find the Best Business Talent
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!
Business Continuity Planning vs. Disaster Recovery Planning
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.
Virtual Boss: 5 Tips for Effective Remote Leadership
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 Family CEO: Aging Leaders Who Can’t Stop Leading
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...
Knowledge Transfer Basics: 5 Tips to Avoid the Brain Drain
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.
10 Essential Lessons Learned at a Succession Planning Retreat
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.
The 1 Simple Thing Successful Business Leaders Have In Common
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.
What is Succession Planning—and Why Does it Matter?
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.
