No Matter What – Ask Yourself These Questions

No matter what…

• If you’ve had a good year
• If you’ve had a bad or mediocre year
• If your environment is stable
• If your market and/or your business is tumultuous
• If you have a sound strategic plan in place – or if you don’t (of course we recommend you call us if you don’t)

… These are questions that every business leader should ask as the year comes to a close… no matter what. 

Close the door, shut off the cell phone, leave the handheld at home, or get out of the office altogether to ensure no interruptions; and ask yourself these questions:

• Did we reach our goals for the year?
• If yes, what did we do right and how can we leverage that knowledge to achieve even greater success in 2008?
• If yes, what will change in 2008 that will make success more challenging – and how do we address those challenges?
• If no, why not?  This is when it’s important to dig deep, be completely honest and objective and articulate the reasons in plain and simple terms.  At the Vann Group, we always say, “if you ask yourself the hard questions; you’ll come up with the right answers”.
• Are we delivering the value that we say we are?  How do we know?
• Are our employees able and eager to do what it takes to ensure our success?  Are they clear on the vision and what it takes to achieve it?
• Do we have the operational structure and human resources necessary to do what we need to do?

Hopefully, you already have a plan in place for 2008 that you feel confident will drive success next year.  If not, these questions will help you begin to craft or fine tune that plan.

The Art and Strategy of Successful Succession Planning

Succession planning is one of those activities that most business leaders allow to take a backseat to daily priorities.  Most people think of it as simply a way to find a successor to a company or organization’s CEO, President, Chairman or Executive Director. 

The truth is that succession planning is an important strategic activity that enables companies to:

• Attract talented individuals
• Retain talented individuals once they join an organization
• Transition one generation of leaders out of an organization
• Ensure continuity and survival in the event of crisis or the exit of an owner

Successful succession planning goes well beyond the executive level and filters throughout the enterprise.   Organizations that succeed in creating an environment that is conducive to employee growth and development are inherently more successful in creating organization-wide succession plans (and they are more successful overall).  In essence, these companies practice a comprehensive strategy that recognizes the value of its people and utilizes them to fulfill the organization’s goals. 

The two most critical success factors to leveraging succession planning as an extremely valuable business activity are:

• Practicing the Concept of First Who; Then What.  Great companies make sure they have the right people on the bus and act promptly to get the wrong people off the bus before they decide where to drive.
• Be Proactive and Strategic in Your Approach to Succession Planning. To get started, ask yourself  these questions:

Now that I have great people:

• Will they stay?
• Will they continue to be motivated to do whatever it takes to help the company succeed?
• Will there be a next generation of leaders ready, able and eager to lead the company at the appropriate time?

Involving your key people in creating your overall strategy and empowering them to work closely with you to execute it is critical in building a strong, cohesive and effective team and one that can be the next generation of leaders of your company.  For help with succession planning and strategic planning, please call: