In succession, it’s common for the exiting generation to believe that the new team do not have the right experience or knowledge and need to be trained up. But it is not often that the exiting team realise that it is also them that lack experience and they must be trained as well.
The role that the exiting leadership team are about to assume is likely very different than that which they have held. And with that comes a totally new set of skills.
There are many stories of ‘retired’ founders who have transitioned their business over to their children but constantly step back into their former role and make decisions which are the opposite to what their children just made. These are not cases where they have sat down with the new leadership team and ‘argued’ out the merits of a decision. Rather these are cases where they have just gone out and done what they felt was right and informed everyone after the event.
Releasing the autonomy and independence that they previously held can be very challenging. As is assuming the role of an advisor rather than a decision maker.
It’s not that the exiting generation does not want the new leadership team to succeed, it’s just that they are so used to being the decision maker that they can’t shake the habit.
The exiting leadership team must learn how to become mentors, coaches and guides. They must release their decision-making authority and be able to sit back and allow the new team to gain experience through their own decision-making.
Importantly, the new leadership team must also learn to function as a team and they can only do this through developing their own autonomy and learning how to make decisions and take responsibility for those decisions as a team.
Ultimately, the success of the new leadership team will depend largely upon the ability of the exiting team to give them the ‘space’ to learn to function as a team. This will be a challenge and learning experience for the exiting team, and it should not be underestimated.
Active Knowledge Question:
Is the exiting leadership team providing the new generation the opportunity to learn how to function as a team and make decisions for which they are accountable?
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All the best in the success of your business,
Richard Shrapnel
