PASSING THE BATON TO THE NEXT GENERATION 09/06/2011
If you are a business owner and have children, sons/daughters–in-law or other next generation relatives in management positions in your company, how do you determine when “it’s time” to step aside and let them run the business? It’s always hard to step away from something you’ve labored to build over a long period. The way “the kids” manage, lead and make decisions is likely not consistent with how you handle things, which makes it even more difficult. Sometimes I think this transition is approached like the illogical parent who takes the child’s bicycle away as punishment and declares, “When you prove to me that you know how to ride it, I’ll give it back to you!” So, how do you convince yourself to let go? Is there anything your successors can (or should) do to initiate and facilitate the process? I’m curious to hear from both sides of this issue. From the owners: how do you know when “it’s time”? From the next generation: how can you “prove” that you’re capable and ready? Tom Cline CommentsLeave a Reply |
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Chuck Violand has always had the objective of helping owners of restoration and cleaning companies improve their long-term business and personal success. The founder of Violand Management Associates, LLC Chuck brings firsthand knowledge and experience of the inner workings of a restoration and cleaning company from over 20 years of owning his own.
Scott Tackett is a facilitator, business trainer, and adjunct professor with a 32-year background in manufacturing. He holds a Bachelor’s degree in human resource management and a Master’s in organizational leadership. Scott founded VMA’s Management Development Program, which helps owners and managers meet the daily challenges of managing a business, while also addressing the challenges of individual managers.
Tim Hull has an expertise in operations. Formerly, he was branch manager and general manager at a disaster restoration company with over $6M in annual revenues. He then became national disaster-response manager at a leading $100M disaster restoration company. To those who face operational challenges in this industry, Tim brings firsthand insight, along with the systems and procedures to solve those challenges.
Tom Cline has a 28-year back-ground in sales, marketing, and operations. He is a consultant, trainer, and adjunct professor with Master’s and Bachelor’s degrees in economics and mathematics. Tom brings experience in executive coaching, job costing, sales planning and sales force development to the VMA team.
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