Month: April 2019

7 Steps to Take Toward a Succession Plan

Organizations often miss the importance of a strategic succession plan. Frequently, you find this true for a family owned businesses and organizations that are close like a family. Emotions come into play and end up pushing out a plan for the future. Tough discussions must happen rather than approaching a succession plan with the path of least resistance concept.

Companies that are family run or operate by those with extremely close relationships tend to have underlying personal agendas and frustrations that easily arise between the team.

In business, things just have to get uncomfortable sometimes. If you continue to steer clear of necessary conversations, then your business and relationships will ultimately suffer. Having a firm succession plan in place is essential for your company and it’s possible if you follow these seven steps.

7 Steps for a Succession Plan

1. Specific ownership goals

You must clearly define and write down the long-term goals of the company. What is the plan for future ownership? Be sure to sit down and discuss these at length as a team and encourage transparency during the conversation.

2. Set competency goals

As a group, talk about what is required competency wise in order to get the job done. Figure out which person among you has the greatest ability to do what it takes in order to ensure your succession plan makes sense and not hinging on people’s feelings.

3. Assess management strengths

Utilize assessments to figure out the competencies of each manager. Study what you see as far as their strongest skills and emotional intelligence in order to decipher the best strategy. There are some great tools available to help you with this task. 

4. Review assessments

After each manager has taken the assessments, be sure to debrief and review them. What opportunities are they best suited for in the company? How could you help them progress in their career? These are a few of the questions that should be considered.

5. Legal advice

Seek out wise counsel when it comes to legal advice. Transferring ownership has tax implications and legal situations that must be done correctly. Do not cut corners with this step.

6. Performance management

As a company, your management team should be well trained. They need to be held accountable for specific goals and outcomes, so be sure to set a system in place.

7. Name the successors

In a succession plan, you must be very clear and have a discussion with the named successor and help them visualize this potential career path. Be clear, specific, and direct in order to hold onto your top talent for the future.

Think through the timing when it comes to a transition. Promotions can be an exciting time but it’s sensitive to employees. Good decisions and a carefully planned roll out will help a company thrive during the transition.

Need help with your succession plan or assessments? Contact us today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professional.

This Skill Will Make or Break Your Job in the Age of Robots

In this ever-changing world of technology, we often find ourselves wondering what the future holds and how will this impact the workforce. The Future of Jobs Report stays one step ahead of this changing economy by diving headfirst into the heart of the workforce and finding out how jobs are changing. Specifically, they take a look at what skill sets are a dying breed and which ones are in high demand.

The Projected Top 10 Job Skills for Success in 2020:

1. Complex problem solving
2. Critical thinking
3. Creativity
4. People management
5. Coordinating with others
6. Emotional intelligence
7. Judgement and decision-making
8. Service orientation
9. Negotiation
10. Cognitive flexibility

Creativity Can Make or Break You

An interesting insight, if you compare these skills with the top skills of 2015, is that a surprising skill has climbed its way to the top: creativity. In a world where people find themselves asking if robots will replace them in the workforce, this is not so surprising.

The world of robotics has made enormous advances, but the one thing that can’t seem to be replicated is creativity.

If you don’t have a creative bone in you, don’t worry. Creativity in the workforce isn’t about becoming the next Van Gogh; it’s about creative thinking to come up with new solutions to problems and taking risks if it means getting results. Creativity is different than being an artist; everyone is creative but not everyone is an artist.

Why Creative Thinking Sets You Apart

Creative thinking goes beyond using a set of rules to come up with a solution. It means thinking through a problem, going through each solution in your mind, and being able to narrow down the best solution. Creative thinkers also know the value of failure. When you take a risk and fail, you tuck that away in your mind for future brainstorming.

It is emerging as a vital skill as we enter an age where adaptability is important. When employees are faced with unforeseen circumstances, it is how they respond to that situation that will set them apart. It is about how they are able to go outside of the rules and beyond the description of their role to come up with desired results.

Creative thinking is the driving force behind business success. If you want to set yourself apart and stay on the cutting edge of the workforce, then you need to practice your creative thinking skills. Until robotics goes beyond algorithms, it is human brain power that will continue to be at the forefront of the fourth industrial revolution.

We would love to hear your comments. Please contact us today!

Contact us today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professional.

Why Sales People Fail

Not everyone is a natural salesperson.  Salespeople come and go in companies because they will either sink or swim.

If you love sales, are able to stay organized, believe in your product and are urgent to make that sale happen, then you’ll do well. The salespeople that are lacking these qualities tend to fail miserably.

Sales people fail for these reasons:

Disorganization

People in sales need to be organized.  After all, they are balancing so many “balls in the air” at one time. The goal is to build up your product and meet with potential clients, all while fostering and facilitating good relationships within your company and with customers.

Sales jobs require appointment setting, strategic planning, client meetings and researching the competition that your product is up against.

In other words, disorganization will cause you to fail.  There are too many facets to what salespeople do and if you lack being organized, then your business will struggle or not make it over time.

Lack of Urgency

Salespeople that lack urgency will surely fail.  If you are not passionate, trying to make the sale at every opportunity, then someone more urgent will come along behind you and make it happen instead.  The more urgent the salesperson the more sales they tend to make.

No faith in product

If someone doesn’t believe in their product, then they won’t be able to sell much of it to today’s savvy customers.  People will see right through your weak, unsupported and boring sales presentation.  You can’t fool people with bad sales techniques.

Customers want to know they are being sold something of value.  When salespeople don’t believe in their product, it shows.

Lacking drive

A salesperson knows that to make money they have to work hard.  If you have a poor or lazy work ethic, then you’ll most likely not succeed in sales.  Sales jobs are fantastic, rewarding and can produce lots of income.

However, if you are not willing to put the time in because of you are lacking in drive, then you won’t be the salesperson who sees the fruits of their labor.

Salespeople are able to convince people to buy their product.  In order to do this, they must believe in the product, stay organized, work hard and show an urgency that exemplifies a caring attitude for their customers.  If you want to avoid failing in sales, then adhere to the tips above and you’ll do well.

Contact us today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professional.