Here are errors which some owners make in getting the successor ready for the top job:
No Planned Hand-over Process
Sometimes, the owners don’t realize the importance of training. They themselves have learned doing the business on their own, so they think that the successor will also learn on her own.
Hesitation
The owners have founded and nurtured the business for a long time. It is their own baby. They may feel possessive about the control and hence may hesitate to pass on the control to the new incumbent.
Only Superficial Hand-over
Sometimes, the owners knowingly or unknowingly keep the successor busy in operational matters. The successor is occupied in “running” the business. He is not involved in strategic matters of “building” the business. So, he is not exposed to newer possibilities.
Being Too Impatient
All people are different. So are all business leaders. A new leader may take time to settle and get his groove. He may make some mistakes also. Sometimes, the owner is not patient to grant the successor that time or the liberty to make mistakes. The owner’s own experience, expertise and mastery over the business issues make him impatient about the different style of working of the successor. Due to this, he interferes with every decision of the successor and makes him feel inadequate for the new assignment.
MBA Block
In some cases, the successor may be an MBA or has done some management course. So, the owner thinks that he already knows everything about running the business. The illogical belief that MBAs know everything comes in the way of the owner(s) training the successor about the essential things unique to the business.
On the other hand, some owner unknowingly gets competitive while working together with such a business school graduate successor, even if the successor is his own child. He thinks that he himself could achieve so much without a management degree and in spite of nobody training him. He is a “self-made” man. So the successor, too, should know everything on his own. To prove his own superiority over the successor, he doesn’t train the successor, preventing him to learn about the business.
(Expert advice to GROW your business wherever you are, whenever you want.
SMEBusinessGuide.com… https://goo.gl/E3pfoQ)
WHAT YOU CAN READ NEXT
PREVIOUS POST:
Guidelines for Preparing the Successor
