As a quick recap, we have been focusing on key values that help many founders be successful. Succession planning is about more than just transmitting technical skills and information. Succession must include a seamless transition of values as well. It means owning the “issues” as well as the shares! See the introductory post for more details on Ron Jensen’s MAXIMIZING Principles.
Life is rarely straightforward and it is never easy. But instead of sulking and getting anxious, success comes to those who are able to assess problems and adapt to the new situation.
It’s happened to all of us. You’re driving home on your usual route when suddenly traffic comes to a halt. There is no collision—just usual volume delays. We know these kind of situations occur and they may even occur daily, but it doesn’t necessarily stop us from getting frustrated.
What Scott Peck suggests in his book “The Road Less Traveled” is that we need to start with the assumption that we are here to solve problems. When these difficulties occur, we are active agents in the realignment that is necessary. Find a new route home. Take public transportation. Turn up the music and sign along.
Successful successions occur when family members understand this concept and are prepared to realign rigorously as circumstances arise in both the family and the business. People age, economies change, technology creates obsolescence, relationships change; be ready with plan B or C.
