Grooming Next Generation Leaders

Jointly implement strategy with your replacement.

When you consider turning over your company to the next generation, you hope that they will enjoy growth of the business and many new successes.  How that will be accomplished is the real question to ask.  The answer may lie in working together now to define the future direction of the company and working together to implement that plan.

Having a business strategy process that you can complete yourself and keep current gives you the opportunity to make business strategy an ongoing teaching exercise for the next generation.

In the process of setting business strategy you will have the opportunity to discuss and review the key drivers for the success of your business.  However, the best learning experience for the next generation is likely to learn how to implement business strategy.  Implementation requires a committed effort and is where real value is created for the business.  Working through the implementation steps and learning to adapt to realities is a critical part of leadership.

The upcoming leader needs to experience the challenges of growing the business and dealing first hand with the obstacles to growth and results.  It’s best if they tackle challenges head-on but with guidance as they proceed.

Some of the real issues during implementation for them may be organizational.  These issues can involve getting each employee to do the right job, to get teams to buy-in to targets and to get the whole organization to work as one machine with all parts synchronized.

The next generation leader needs to know how to run the business and how to adapt it.  Learning to use business strategy to direct the company can be important preparation for them.  Work together with them to set strategy and especially to work through the challenges of implementation.