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Succession Planning: How Do We Plan for Our Exit?

Our panel of mentors regularly answer your practical business questions. Send us your questions!

 

Dear BAM Mentor,

I keep hearing about succession planning and having an exit strategy… But when should I be thinking about this? How does it tie in with leadership development in my team?

~ Thinking Long-term

Dear Thinking,

Start the Beginning with the End in Mind

So let’s keep focused on that goal, those of us who want everything God has for us. If any of you have something else in mind, something less than total commitment, God will clear your blurred vision—you’ll see it yet! Now that we’re on the right track, let’s stay on it. – Philippians 3:15-16 MSG

Every life experience has a beginning and an end. The multiple stages of parenting is a fairly accurate depiction of this truism. First-time parents know, even in those first days of newborn-nuzzling, they must one day release that child. The busyness of the initial parenting season blurs the reality of inevitable separation. When the eventual becomes the reality, the detachment process can be palpable. As painful as this process can be, if it doesn’t happen, the child will most likely never continue to develop into a fully productive, self-sufficient individual.

Similarly, one can view the life-cycle of a business and its founder in the same manner. For founders, the early stages require us to do just about everything. We build and test product, we market and sell, we provide customer service, we make coffee, we clean toilets, and we take on any and every unenviable task, if seen as advancing our vision. Our “new baby” is solely dependent on us. For some in this stage, we can’t even leave the “baby” for fear we will return to a mess at best, or a dangerous situation at worst.  Read more

When Should I Be Thinking About Succession Planning or Exit Strategy?

Our panel of mentors regularly answer your practical business questions. Send us your questions!

 

Dear BAM Mentor,

I keep hearing about succession planning and having an exit strategy… But when should I be thinking about this? How does it tie in with leadership development in my team?

~ Thinking Long-term

Dear Thinking,

None of us will last forever. Every manager and every employee someday will move on, either to another job or another company or to retirement or to death. If Jesus returns shortly then the calculation is different, but it is a pretty good bet that no one will be in the same job 80 years from now.

Some people are pretty comfortable playing things as they come and responding to problems as they arise. Often that works. But it’s really a wiser move to have some plans in place, especially for key positions. If something unexpected happens to a key employee it’s not at all a sure thing that you will be able to find a replacement in a reasonable time. In our work we have seen expatriate managers suddenly blocked from entering the country or suddenly have a spouse announce he won’t live in the country any more. Kids get serious illnesses or require therapy that is not available locally. We have also seen national managers suddenly decide their family will be better off if they relocate to a wealthier or safer country. In most of the cases I can remember the decision was sudden and unexpected and the consequences were very hard for the company, sometimes fatal.  Read more

Servant Leadership in the Marketplace

by Peter Shaukat

Christians are called by God to bring servant leadership in the marketplace.  There is critical need for servant leadership in the world today and this is especially true of the marketplace where so much of the world’s agenda and the pace for development is set. The marketplace can and should be a primary context for God’s redemptive action.

Although this need to bring servant leadership is not confined to those called to business as mission, it is vital for BAMers to get to grips with our leadership role in the marketplace.

Psalm 78 verse 70 tells us that God chose David to be his servant leader, taking him from tending to sheep to being a shepherd for His people Israel. Verse 72 describes David’s leadership: ‘David shepherded them with integrity of heart; with skillful hands he led them’. Servant leaders must conduct themselves with integrity, and they must also be competent.

This represents two spheres for servant leadership in a business context: our moral leadership and our operational leadership. Read more

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