“The master points out the way that talent should walk”
Finished the best university, prestigious MBA studies, several years of work in parents’ company, can we say: a huge investment in the making of the best successor is completed, good time has come for their entry into the board of the family business. And yet the dilemmas are still there:
- How much of the decision making I should pass on to the successor
- Will he be able to deal with stress or critical situations?
- Will the team accept him and want to cooperate as they do with me
- Won’t experienced managers leave the company?
- Will my company manage to retain existing customers?
- Is he really ready to take this position?
We can assure you that all the above questions are reasonable.
There is no doubt that every entrepreneur facing the succession should be able to prepare their successor well, not only theoretically, but also practically.
The history of the company, the first contracts, successes and failures, advices and warnings will be passed to the successor by the master, because they were the ones that built the company. However, it would be more advantageous if someone familiar with today’s management, communication or marketing model, using the technology and automation that move the company forward, would be there to guide the successor too.
There is a huge technological difference between “yesterday and today”, companies are now managed in a different ways, there are different communication tools being used, different marketing strategies are carried out-to develop companies further, you have to be sure which path to take, be courageous but slightly in a different way than it used to be a while ago.