A solid business that is to stand the test of time and endure does so through business succession. A leader is a great person, and their leadership might be stellar or exceptional. Nonetheless, a great leader also knows that his leadership is not eternal. The time will definitely come when the mantle of leadership must be turned over to the next worthy person. Business succession is crucial to a business and a great leader, at the time of his departure is calm and assured about his or her decision of turning over. What are essential considerations in business succession?
* Faithfulness, dependability and loyalty. There may be a people's favorite because of gestures they may have done to gain the people's liking. However, a worthy successor is one who's been with the organization during thick and thin moments, has set aside their ambitions for the common good of the organization.
* An articulate visionary to continue the legacy. Loyalty and faithfulness are not enough to determine a deserving successor. Business succession ought to be handed down to somebody who has been true to the vision and can further it to continue the legacy. A worthy successor should be a person of direction.
* Responsibility. A successor fit to be the next leader should have been a responsible follower first. It's just one way and nothing else- leadership is spelled as r-e-s-p-o-n-s-i-b-i-l-i-t-y. Leave the wishful thinkers in the corners daydreaming their aspirations to the wind. Test your prospective successors to assess their character and level of responsibility. If ego gets in the way, consider the prospect out of the competition.
* Integrity and willingness to learn. A leader fit to handle business succession should not be content with the status quo. Change oftentimes is essential for progress, that's why a successor ought to have a rigid mindset. Integrity is necessary to a person who is to handle responsibility of a higher magnitude. It is not only about not succumbing to greed but even in little things such as coming to work on time, paying what one owes as promised or keeping to their commitment.
* A teacher and a team player. A prospective successor has to be able to connect with his or her followers, to kindle and keep the warmth of the team spirit alive.
* Mature and wise. Age is not necessarily the barometer of maturity here, but rather the wisdom to handle responsibility and take control in times of predicaments within the organization.
* A passionate and influential person. A passionate leader always fuels their motivation. Such a person is driven and eager to work. An influential leader on the other hand moves their followers. He or she inspires and motivates them to be better persons and followers towards achieving the organization's goals successfully.
As one leader steps down, business succession is crucial because it determines whether an organization will live on or falter.
By the way, do you want to learn more about leadership in your company? If so, download your FREE ebook here: Guide to Elegant Courage Leadership
Jodi and Mike specialize in executive coaching with individuals and teams. http://lighthouse-leadership.com
By Mike Krutza
* Faithfulness, dependability and loyalty. There may be a people's favorite because of gestures they may have done to gain the people's liking. However, a worthy successor is one who's been with the organization during thick and thin moments, has set aside their ambitions for the common good of the organization.
* An articulate visionary to continue the legacy. Loyalty and faithfulness are not enough to determine a deserving successor. Business succession ought to be handed down to somebody who has been true to the vision and can further it to continue the legacy. A worthy successor should be a person of direction.
* Responsibility. A successor fit to be the next leader should have been a responsible follower first. It's just one way and nothing else- leadership is spelled as r-e-s-p-o-n-s-i-b-i-l-i-t-y. Leave the wishful thinkers in the corners daydreaming their aspirations to the wind. Test your prospective successors to assess their character and level of responsibility. If ego gets in the way, consider the prospect out of the competition.
* Integrity and willingness to learn. A leader fit to handle business succession should not be content with the status quo. Change oftentimes is essential for progress, that's why a successor ought to have a rigid mindset. Integrity is necessary to a person who is to handle responsibility of a higher magnitude. It is not only about not succumbing to greed but even in little things such as coming to work on time, paying what one owes as promised or keeping to their commitment.
* A teacher and a team player. A prospective successor has to be able to connect with his or her followers, to kindle and keep the warmth of the team spirit alive.
* Mature and wise. Age is not necessarily the barometer of maturity here, but rather the wisdom to handle responsibility and take control in times of predicaments within the organization.
* A passionate and influential person. A passionate leader always fuels their motivation. Such a person is driven and eager to work. An influential leader on the other hand moves their followers. He or she inspires and motivates them to be better persons and followers towards achieving the organization's goals successfully.
As one leader steps down, business succession is crucial because it determines whether an organization will live on or falter.
By the way, do you want to learn more about leadership in your company? If so, download your FREE ebook here: Guide to Elegant Courage Leadership
Jodi and Mike specialize in executive coaching with individuals and teams. http://lighthouse-leadership.com
By Mike Krutza
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