You should have laid down documented policies and standard operating procedures that standardize conduct, protocols and procedures for every aspect of the business. These ensure that no one suddenly changes protocols to what is more convenient for them. It will ensure that even in your absence the laid down procedures with the select team you have placed your ‘imprint on’ the business will run almost as if you were present.
A lot of entrepreneurs are afraid to give so much information to ‘strangers’ because they believe that they will run away with their trade secrets. They might, they might not. But without that transference of knowledge, that business is sure to die with the owner. Some entrepreneurs try to ‘keep it in the family’ by trying to transfer the knowledge to their children. Sometimes it works, sometimes it doesn’t.
Not all children will follow their parents’ footsteps.
Not all children want to follow.
Not all children are equipped or have the capacity to follow.
One thing is for sure, for your business to outlive you, your must recreate yourself in others and draw up the path they could follow. This is imperative because after all, no one will live for ever!!!
This does not negate the fact that businesses evolve, new ideas come and for the business to survive it will need to change with the taste of its clients, but the fact remains that, for continuity to take place, there must be a clear path to follow FIRST!
Dear BIE readers, we need to consciously take steps to build our businesses to last long after we move on. That conscious planning and execution is what ensures we have lasting legacies.