In the world of business, getting stuck is a common experience, especially when it comes to succession planning. Roger’s story shows how breakthroughs can happen when you least expect them, and how the right support can make all the difference.
The Fog of Uncertainty
When Roger first joined our Succession Planning for Impact mastermind group three months ago, he was lost in a fog of uncertainty. As the founder of his enterprise, he couldn’t see beyond his own involvement. “All I could see was the business fading away in my absence,” a fear that resonates with many entrepreneurs.
The Power of Conversations
As I often say in my book, “Succession Planning for Impact,” it all starts with conversations. Roger began to engage in trusted dialogues with his mastermind peers, which gradually emboldened him to initiate similar conversations with key people at his company. This aligns perfectly with our first Succession Planning Conversation: “As founder or CEO, what are your concerns about the eventual transition of your role?”
Sharpening the Axe
Abraham Lincoln reportedly once said, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” This wisdom applies perfectly to succession planning breakthroughs. Roger spent three months in our mastermind, essentially sharpening his axe.
The Breakthrough Moment
It wasn’t until our third month together that Roger experienced his breakthrough. The group had gelled, asking him hard questions and providing fresh, innovative ideas. When he divulged a particular challenge, the group came through with insights he would never have reached alone.
From Stuck to Success
Roger’s journey is inspiring. From never having considered succession planning three years ago when we first met, he has now successfully transitioned leadership of his first business to his son and is in the process of transitioning his second business. Remarkably, he remains an employee, doing what he loves while still receiving a paycheck.
The Power of the Mastermind
What makes a great mastermind? It’s the combination of diverse experiences and perspectives from other entrepreneurs. As outlined in our book, establishing your succession planning team is crucial. The mastermind provided Roger with trusted advisors who could “speak truth to the founder/CEO about succession planning.”
Key Takeaways:
1. Breakthrough often requires one-on-one conversations with a catalyst, working in conjunction with a mastermind group.
2. CEOs are often too busy working IN the business to work ON the business. An outside voice can help prioritize succession planning.
3. Organizations like C12, Convene, and Cultivating Impact offer masterminds led by experienced business leaders who understand the challenges of entrepreneurship.
4. Building the next generation of leadership may take different methods, but the principles will remain the same.
5. Not taking steps toward succession planning is like chopping wood with a dull axe. Sharpening your axe through masterminds and strategic conversations can lead to freedom, increased profitability, and a secured legacy.
I believe in you!
Harry T. Jones
P.S. Are you ready to take the next step in your succession planning journey? Join our exclusive Succession Planning Mastermind group. Email me at harryt@cultivatingimpact.biz with “mastermind” in the subject line. Let’s shape the future of your business together!
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