22 Jul Leadership transition
For firm owners and leaders there are multiple types of transition. Some are easier than others.
In approximate order of difficulty, from easiest to hardest, the types of transitions look something like this:
~ Ownership transition
~ Management transition
~ Governance transition
~ Client transition
~ Leadership transition
That’s right. Leadership transition is the hardest.
It can be difficult for firm leaders to see a clear path for the transition of their firm. It is harder still when there is also pressure from within the firm to improve and evolve.
We deal with external and internal ownership transitions on a daily basis and in each we encourage a broad holistic view of what is needed.
Here are a few things that could help you and your firm:
1) Don’t assume. Ask. Asking questions aids leadership and does not diminish what people think of you.
2) Regular, usable, and clear communication is needed… And that doesn’t mean email.
3) Hold up an honest mirror to the leadership and look to seek and address the perceived weaknesses of the leadership, particularly those that can hinder one of the five transition areas.
There are of course many more things that can be added here. What strikes you as important?