Are You Terrified About Your Succession Plan?
By leadership author and keynote speaker Ross Shafer
Are you about to turn your business over to a son or daughter…and you’re freaking out? I hear this a lot. And as much as you love them, you’re terrified your child will decimate everything you’ve worked so hard to achieve. Wow…you think a lot of yourself don’t you? You think you’re the only one who can run your business? The only one who can sustain your baby?
Let me talk you off the ledge with some facts. First, you’re very lucky you’ve got a business worth passing along and YOU knew this day was coming. You secretly hoped this day would come. So you put your teenage son or daughter to work in the business doing menial tasks…but they weren’t small to them. He or she has been watching you for decades. They’ve lived with you during the good money times AND the we-need-to-cut-back times. They know what the company means to you and they aren’t going to screw it up. They will probably work harder and longer than you have because they want to prove to daddy or mommy that they deserved your trust.
You’ve been focusing on a potential disaster. And they have been focusing on The Potential. Let me tell you why you should chill out and let them run with what they know. They know Technology. They can’t wait to leverage technology in ways you were too reluctant to learn. They know Marketing. They grew up understanding the power of social media targeting. They can find the eyeballs. And they know how to make friends. See, you’re probably afraid the company will die without you – because they don’t have the same long-term relationships that you do. (c’mon in here, I’ll tell you a secret) Your long-term relationships won’t help them ( )…because your long-term relationships are retiring too…and some will be dead in a few years.
You need someone in charge who can make new – YOUNG – relationships that will be around 30 years from now. Finally, they know how to innovate. YOUR best ideas might be behind you – not because you’re not creative anymore…but because the way you used to innovate won’t be competitive tomorrow. What your son or daughter knows will keep your company relevant and positioned to get to the future first. Alright, Feel better? I know I do. By the way, your kids asked me to talk to you about this…so my work is done, here.
If you liked what you’ve heard here…tell your friends…subscribe to my free YouTube channel www.YouTube.com/User/RossShafer We have a lot of other videos for you to see. Before I go, I must tell you I got a comment yesterday that I love. “Ross Shafer’s videos…Binge baby…Binge.”
Ross Shafer is the author of (9) popular business books and (14) human resource training films. In a former career Ross won (6) Television Emmy awards for his work as a TV host, writer, and producer. Today, Ross is a sought after keynote speaker and consultant for Fortune 500 companies worldwide.