When starting out in business, most do not naturally look forward to the future and ask, “What do I want my legacy to be, and who will fill my shoes?” Rather, as entrepreneurs, we look at how we can get a business up and running, be profitable, and hopefully live a rewarding lifestyle. It is not until we are looking at what “next” looks like that we start to consider what we want to leave behind. And often, by the time we are looking at what’s “next,” we find ourselves a few steps behind the curve in planning for an effective leadership transition.
Even for those that are ahead of the curve in planning for “what’s next”, there is often a fear of failure. The fear that no one can run the business like you do causes many to get stuck in a rut, creating blinders to untapped resources and obstacles towards development of next generation leaders. Yet today, dealers have exponential opportunity to properly identify and develop their future leaders. To do this, however, you must embrace your vision, build out a leadership transition plan, and position the right leader for success to one-day fill your shoes.
Read the complete article on the Digital Dealer Website website
Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.
