Could your leadership team survive for 7 days without you? These are the questions every smart business owner asks. These are also the questions that many business owners never answer until forced to face the music.
A smart way to ensure the succession of your business is with clearly defined roles. It is not as easy as it sounds. Not every manager is the same. Consider these 5 leadership roles in a family business:
Many small business owners say that their business is like an extension of their family. Leadership roles include raising new talent up in the same way a parent raises children. Trust and integrity are critical to developing credibility and authority. Accountability goes both ways here junior leaders answer to authority but top management is held accountable for their actions. Planning usually takes place by senior leaders and ensures succession plans are developed for smooth transitions. Action planning is often done by middle or line managers. The action plan is used to develop goals and methods for skill improvement and leadership development. Communication is almost always the key to success in developing leadership roles in a family business. Proper communication means everyone knows what is expected and how it is to be accomplished.
The smart business strategist implements clear leadership roles to help everyone succeed. The define roles for senior and junior members ensure a smooth succession of leadership through multiple generations. Finally, remember that successful leadership transition should involve the entire organization and not just upper management. Cooperation of the entire team must be accomplished to succeed.
How do you develop leadership roles in your business? Please share your thoughts.
- Long-term Planning
- Action Planning
- Leadership Development