“Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” – Galatians 6:9
This week, we continue the final column in the series on disruptive innovation with a focus on the succession system of a business. As human beings, we procreate; in business, our succession system is the gateway to our greatest season of influence which leads to the path along which we can journey to make a lasting contribution to posterity. A well conceptualized succession planning process is to develop our team members to the fullest by improving team well-being, increasing empathy, releasing creativity, motivating individuals, inspiring individual happiness, and contributing to business sustainability. Otherwise, our businesses would weaken, become extinct and frustrate the prospect of economic growth.
It begins with the identification of the strengths and weaknesses of each team member and then unlocks their potential to develop in their areas of strength. It culminates with the smooth handover of key leadership and management roles to the next generation of our business.
Here are some disruptive innovation strategies for business succession which will help your business to make a mark in national development. When the nation wins, we all win!
- Positive affirmations of abundance –The strategy is to attune entrepreneurs and others to positive affirmations of passion, persistence and patience, in pursuit of happiness, encouraging them to attain and maintain high healthy levels of energy as they engage in their spiritual, emotional, mental, physical, financial and business lives. A life coach can help you with specific professional projects, personal goals, and transitions.
- Time management – The strategy is to increase your productivity by optimizing the distribution of your time, say, an average of 8 hours per day (sleeping and exercise), 8 hours (personal activities and helping others) and 8 hours (as a member of the workforce to earn a living).
- Training – The strategy is “demand driven” education and training leading to certification. This is the most cost-efficient approach. Matching workforce supply and demand is paramount to maximize team member productivity. To do otherwise, may lead to well-trained unemployed members of the community which is a waste of scarce resources. The information age has spawned an abundance of virtual ways of delivering training which makes it easy and focused for the individual.
- Shepherding –Even existing companies will encourage intrapreneurship (entrepreneurship within a company) to become more efficient. Shepherding is necessary to guide the entrepreneur or intrapreneur to lie down in green pastures and rest beside the still waters on the journey to business success. Shepherding the team member, by an experienced businessperson or squad of businesspersons, in the specific business systems and procedures relevant to a given enterprise, is also vital to workforce cross-training and development experience. Shepherding mitigates the risk of business failure and hence secures the capital investment.
- Delegation – At some point team members must be given more responsibility if they are to become the leaders of the future.
We would be well served to heed the immortal words of the recently deceased US civil rights icon, Democratic Congressman John Lewis: “Don’t give up, don’t give in. Keep the faith and keep your eyes on the prize.”
(Dr. Basil Springer GCM is a Change-Engine Consultant. His email address is email@example.com. His columns may be found at www.nothingbeatsbusiness.com/basil-springer-column/ and on www.facebook.com/basilgf).