When an owner embarks on the path to transition their business, their primary focus is who will fill their role. They naturally desire someone who will continue the path they have forged and do things in a very similar way. When a company prepares for any transition big or small, growth is always a consideration and sometimes growth means change.
Cindy Anderson, CEO of Thinc Strategy says, “You have to ask yourself, ‘Am I the right leader for this organization moving forward to achieve the goals for future growth?’”
At Thinc Strategy we utilize a Decision Matrix that gives us insight into who should initiate change in a company. This allows the current leader to assess changes that would begin to pave the way for new leadership. When a company approaches this in a piece-by-piece manner, it allows the individual to begin a gradual transition out of their role and or the company.
Cindy shares, “By giving them pieces at a time it eases the transition for the current leader. By taking the process in small bites, it lessens that scary feeling of losing control for a leader who has been in control for a very long time.”
The best path to avoid common mistakes in a leadership transition is to have a well-documented plan that everyone understands. A solid plan that is recognized by everyone involved allows for transparency that will lead to respect and strong familiarity with company goals. Thinc has a customized approach to transition planning. Our objective is to help companies make the best decision for you, your team and your business.