Over the last three decades, I have worked with financial advisors on preventing succession plan bloodbaths in different succession scenarios. These include Outside Successors, Family Successors, and Assistant Successors. By using Values and Behaviors Assessments, we can prevent misalignment before it becomes a disaster.
Whether you’re planning for an external hire, a family transition, or promoting a long-time assistant, succession planning doesn’t need to be a chaotic or stressful process. The key lies in aligning values and behaviors to ensure both the outgoing leader and the successor are on the same page. This approach prevents conflicts and ensures a smooth transition that protects the legacy and future growth of the firm.
Preventing Succession Bloodbaths: A Three-Pronged Approach
- Outside Successors: Are they bringing innovative ideas that may clash with the founder’s values?
- Family Successors: Are they struggling to live up to the founder’s expectations and develop their own leadership style?
- Assistant Successors: Are they fully prepared for the extroverted demands of leadership?
In each case, using Values and Behaviors Assessments is crucial. These assessments help identify the right successor by aligning their core values with the firm’s mission, thus avoiding unnecessary friction during the transition.
By utilizing Values and Behaviors Assessments, you’ll gain crucial insights into the leadership styles and motivations of both the outgoing leader and potential successors. This ensures the right successor is chosen, minimizing the risk of misaligned expectations and leadership clashes. To dive deeper into how these assessments can help secure the future of your firm, I’ve created a comprehensive guide that outlines everything you need to know for a successful transition.
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[Click here to receive your free guide: Unlock the Secrets to a Smooth Leadership Transition: Your Guide to Successful Succession Planning.]
This guide will walk you through the entire process of succession planning, from understanding key values to ensuring a smooth leadership handover. It offers practical steps to avoid common pitfalls and provides you with the tools to assess successors with confidence.
What are your Values and Behaviors, and what are the best Values and Behaviors of a Potential Successor?
To prevent a Succession Plan Bloodbath, contact Simon Reilly for a free consultation. Call 250-248-6012 or click here to schedule a conversation.
Thank you for the opportunity to be of service.
Simon Reilly
International Values and Behavioral Analyst, Business Coach, Speaker and Author
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