Q. What do employees and
clients want to know?
Employees want to know
what the outgoing CEO’s role
will be. The reaction from people during an ownership change
kind of covers the whole range.
On one end, people are going to
be thrilled knowing there is going
to be a passing of the baton. On
the other end, people are going
to be nervous. People want to
know in succession planning
that the leaders are going to be
available. When I say people, I
also mean clients. Clients want
to know that you are going to
be available to coach, to be a
connector and an ambassador.
Q. How do you ready yourself
to relinquish control?
Transferring ownership of a
company you’ve led for so long
can be difficult. But transferring
ownership is all about creating
opportunity for others. Organizations need fresh ideas, and you
want to build and sustain what
you helped create. A smart owner
has to be intuitive and know
when the timing is right. You just
have to be brave enough to know
when to get out of the way.
HOW TO REACH: Northlich Inc., www.northlich.com
