How do you effectively communicate family succession plans? With transparency in your communications, properly preparing someone for leadership, and identifying potential skill gaps and behavior problems.
As your career develops and you grow into roles of greater responsibility, one of the biggest challenges is what Jennifer Garvey Berger calls “The paradox of the appearance of increasing control and the experience of decreasing control.”
Nearly all of the 6 common exit strategies for contractors require the business to continue being successful for the outgoing owner to get paid. There are a couple of things that can be done to help ensure everything stays on track.
Managers must set goals that are S.M.A.R.T. (Specific, Measurable, Achievable, Relevant and Time Bound. Leaders must be stretching their teams toward objectives are beyond what anyone believes they can achieve.