5 Signs You Should Start Looking For A Successor
The thought of letting go of their business is extremely difficult. It's most likely been a lifelong journey. But like that annoying uncle that won't leave the holiday get-together when it's clearly time to go, knowing when to let go is critical.
Here are 5 telltale clues:
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You are spending less and less time at work these days. Instead of rolling your sleeves up daily and working on or in your business, you're sliding the club head cover off and teeing up for another round. Clearly motivation is dropping...
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You are constantly being irritated by your employees. They've done nothing wrong, but you tend to have less and less patience these days...
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You find yourself being dismissive of new technology more and more and don't want to implement it. A unwillingness to recognize that tech is rapidly changing all work spaces and businesses is a definite 🚩
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The thought of changing your processes and way of doing business gives you heartburn. An inability to change how you do business, as your customers change how they do business with you, is a recipe for failure medium-to-long-term
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You are offloading more and more of your functions and responsibilities onto your managers/staff. This ties in with #1, where clearly your head is no longer in the game and you are entering coasting mode.
If you find yourself starting to slip into some of these examples, it's probably a good time to start thinking about your succession plan. It's not an easy time in one's business life potentially, but you want to make sure your exit is graceful and that the long-term survivability of your company is secure.
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