Many owners remain as the only key manager in the business and fail to develop people under them who have actual leadership capabilities.
This sort of hub in spoke structure, inhibits growth and organizational longevity because eventually the business grows beyond the capacity of the owner, and there is no bench for when the time comes to transfer leadership.
This does not mean that you are giving up control of your franchise operations before you are ready. Instead, it could mean freeing yourself up to do more to grow the brand and your portfolio.
Depending upon the maturity of your business, you may be required to conduct a talent search; otherwise, if you have the time, look inside your business for leadership potential.
Click the following link to read Kendall Rawls’s post on the Multi Unit Franchising’s website titled: How and Why to Identify Rising Talent
Read the article and then reach out us to get some insights on your own situation. Even if you don’t become a client, a few moments with us may help you save years of difficulties. Contact Us
Business value is tied to performance. Top talent, strategic vendors, and creditors will be influenced by the organization’s competitive advantage in the marketplace. Traditionally, transitions generally bring with it a drop in profits. It is crucial that your business is operating at peak performance in order to fulfill cash flow needs and expectations during times of transition.
Click the following links for more drill-down resources on Business Performance.
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