With a friend, I set out to survey a piece of land for sale, eager to cover ground and assess the property’s potential. As I crested a hill, I encountered an unexpected sight: a washed-out pond beneath a steep embankment.
Without pausing, I continued walking at the same stride I had used climbing the hill.
Suddenly, my quadriceps tore. The sudden shift from uphill to downhill, combined with the uneven terrain, had taken its toll. I had to be transported out of the area. My survey was cut short.
There is a valuable lesson about adaptability in this story, one that applies just as much to business as it does to hiking. Just as walking down a hill requires a different stride and muscles than walking up, navigating various stages of business growth requires adjusting our approach.
The Entrepreneur’s Approach vs. The Coach’s Approach
As entrepreneurs, we’re often expected to show up with great answers and solutions. We feel pressured to maintain a constant pace, pushing through challenges without hesitation. When it is time to pass the baton, this mindset can lead to burnout, missed opportunities, or, as in my case on the hill, painful setbacks.
A coach, on the other hand, approaches the situation differently. Instead of forging ahead, a coach might pause at the top of the hill and ask significant questions (who, what, when and how):
“What’s the safest way to navigate this unfamiliar terrain?”
“How does this change in landscape affect our approach?”
“How should we adjust our pace or should we find an alternative route?”
Building a team and leaving a legacy requires that you move from entrepreneurial mode to coaching mode.
Start Asking Questions
In “Succession Planning for Impact,” I emphasize the power of asking the right questions. With the right questions, the facts become clear, and solutions will jump out at you. This approach is crucial, especially when planning for succession or navigating significant business changes.
People often expect entrepreneurs to have all the answers. We’re the visionaries, the risk-takers, the ones who see opportunities and dare to pursue them. Our role often involves:
Making quick decisions
Providing direction and solutions
Driving growth and innovation
This entrepreneurial spirit is essential for business success. It’s what gets companies off the ground and propels them forward.
The Coach’s Hat: Questioner and Guide
However, there are times when stepping back and adopting a coaching mindset is more beneficial, especially when it comes to succession planning. As a coach, we:
Ask powerful questions
Foster growth in others
Help team members develop their own problem-solving skills
The importance of asking the right questions cannot be overstated.
In your coach role, you might ask, “If this organization were to shut down in 90 days, why would that be bad? What would the consequences be for the employees, vendors, community, and future generations?” This is similar to the questions provided in conversation three of Succession Planning for Impact.
These types of questions help us and our teams think critically about our business’s impact and purpose beyond just making a profit.
Balancing Both Roles
The key is knowing when to wear which hat. Here are some scenarios where you might switch between roles:
Developing future leaders: Use your entrepreneurial vision to identify potential, then switch to coaching to help them grow.
Defining your niche: As an entrepreneur, identify your most profitable customers and products. As a coach, ask, “How are we devoting our resources to these most profitable customers?”
Succession planning: Use your entrepreneurial foresight to create a plan, then coach your successor to ensure they’re ready to take the reins.
Crisis management: Make quick decisions as an entrepreneur, then coach your team through the implementation and learning process.
The Pitfall of Not Balancing
Failing to balance these roles can lead to a business that’s overly dependent on its founder. This can make it difficult to sell or transition the business when the time comes.
The Path to Lasting Impact
By mastering the art of switching between entrepreneur and coach, you create a business that not only thrives under your leadership but is also prepared for a future without you. This balance is the key to effective succession planning and building a business that truly makes a difference.
The Turbochargers, Have One and Be One
Coaches are turbochargers in your business and life - you should have one and be one. Finding and being a coach can supercharge your journey. With a coach, you will make better decisions, avoid costly mistakes, and create a finishing-well impact. But it’s not just about having a coach; being one is equally transformative. When you serve as a coach, you give yourself away, a large part of finishing well, step seven of the Succession Planning for Impact method.
Are you coachable? Are you willing to examine your strengths and weaknesses? What areas of expertise can you share or learn from? Coaching can take many forms, from one-on-one relationships to peer advisory and mastermind groups.
To help you along, both as a coach and protégé, I have created a powerful tool using the KASH Framework (from step five of the Succession Planning for Impact framework). KASH stands for Knowledge, Attitude, Skills, and Habits - the key elements for personal and professional growth. This framework will help you in your coaching role to ask great questions.
Want to dive deeper into how you can use KASH to supercharge your succession planning? I’m offering a free download of my KASH Framework guide. This resource will help you ask great questions and create targeted development plans. To get your free copy, CLICK HERE and enter your email.
Harry T. Jones
P.S. Get your KASH Framework guide. It’s free today: CLICK HERE
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