What do CEOs and business leaders want when they exit their roles?
Respect
Relevance
Connection
What do CEOs and business leaders fear when they exit their roles?
Loss of influence
Having time and $$$$ but no plan
Desire to excel but no outlet for expression
Forfeiture of social standing
Diminution of professional identity
Byrnes’ 5 Stages of Transition
A skilled leadership transition coach will challenge the most seasoned executive to diligently prepare a plan for succession that attends to much more than “who will take my position?” Stakeholders in succession preparation include the Board, family members, the executive team, customers and employees.
In this process, your coach should have crossed the stream before you to help identify your ideal path forward and where potential hazards may lie.
“Randy has personal experiences to draw from and was a great resource on the topic of “personal and professional transitions” which was an important focus for our group.”
There is a profound identity associated with being a business founder, owner or leader in a company. Acknowledging one’s anticipated separation from this identity will engage feelings, perceptions and self-awareness that may have never been called into play before. A succession preparation coach will prepare you to address unforeseen questions before they arise. The path will be yours alone to walk but you won’t travel in isolation.
Role transition, whether one’s first step into leadership responsibilities or one’s transfer of authority to the next gen is a journey with unforeseen turns. It helps to have someone on the path with you.
