Congratulations! You’ve documented your company’s core processes. It’s a big undertaking for teams to simplify and document their processes. The next step is to roll them out to everyone in the company and get them followed by all. But how do you do that?
How does a company successfully transition from one generation to the next? For many teams, just the term “succession planning” can be overwhelming. All the details of buying/selling and ownership transition are daunting, but beyond all that is one question plaguing business owners: "Even if we had all the legal details worked out, how does my business practically transition to the new ownership so that I can step away?"
Here’s the story of one team that successfully transitioned to new ownership within the EOS Process™.
On your journey to becoming your best in business, you’ll need to make some tough people decisions. Usually those decisions revolve around Right People/Right Seat issues. In the EOS Process™ we use the People Analyzer™ with GWC™ (Get It/Want It/Capacity to Do It) to identify the root cause of a team’s specific people-related issues. The most common people issues are:
- Wrong Person/Right Seat – someone who doesn’t share the core values but is in the Right Seat.
- Right Person/Wrong Seat – a person who shares the core values but is in the Wrong Seat, i.e., they don’t get it, want it, or have the capacity to do it.
Sometimes the tough people decision is to fire an employee who doesn’t get it, want it, or have the capacity to do the job. One of my clients recently had to make that tough decision. Afterwards, the Visionary told me about the way the employee responded to being fired.
I’ve noticed a pattern this year across several good teams that have truly become great teams. Conversely, there are other teams that just remain mediocre. Why is that? It all comes down to having a great Integrator in place who owns their role.
In any entrepreneurial organization, two essential seats are the Visionary and the Integrator™. A great Visionary is driven by creativity and passion, which fuels his or her vision for the company. A great Integrator takes that vision and makes it happen throughout the organization. Without these two leaders working side by side, your company will never see the success it’s capable of achieving.
In the last quarterly session with a client, the team reported record financials in the last 90 days. They exceeded their revenue and profit targets, and they completed over 90 percent of their rocks. By all estimations, they had every reason to celebrate. But when it came time to grade the quarter, they gave it a C+ / B–. Surprised by the low grade, I asked them to explore this a bit. What they discovered has the potential to change their company for years.