Thursday, 28 August 2014
Delegate and detach
As a business leader it is important to understand that it is a dire need for all growing professionals to build succession to unshackle their growth and have businesses running with minimum or no involvement in daily chores. It is gaining a new dimension in the leadership as it is about ‘creating’ productive time for one to drive well thought of strategy and structural initiatives rather than daily routines for larger success.
Most entrepreneurs and business leaders fall into the trap when they get obsessed with their ownership of domains for long and do not build and entrust the successors voluntarily, unless they either become slave to their businesses and executive roles, or start losing their streaks for lack of fresh thinking. This then results into a plateau that is not very easily broken. Most of such businesses then get into the rut of low growths and insufficiency of ideation for long periods, deoxygenating the organisation with lowering or tapering of profitability, low esteem within the organisation and its team members, and creating opportunities for competition to catch up.
The similarity and predictability of organisational activity leads to boredom, loss of interest and enthusiasm among the team members who have high ambition to grow and results into higher attrition when such opportunities are either denied or not created with intent to grow such talent.
As organisations scale up, the lack of succession leads to overburdening the engines, viz.. the leadership teams, and create direct impact on their efficiency, direction, focus, work life balance and ultimately the equilibrium in their lives. This can potentially derail their business, health, family, social and spiritual facets of their lives. It is recommended that most of these people take cognizance of this issue earlier than later.