Business Transitions .. Are You Ready to Change?

Excerpt from Growing Pains by Eric G. Flamholtz & Yvonne Randle

As the CEO of your business, have you recognized the need for personal change in order to be the kind of leader required for success going forward?

You have worked hard building your company. Are you still spending too much time dealing with the technical aspects of the business ... work you know how to do and have enjoyed? Do you understand there are adjustments you need to make with your managerial style and capabilities? In spite of the fact the organization has grown substantially, do you still want to control too many details of the business?

As businesses must change and transition from one stage to another, the leaders of the business must also make personal changes. Often times the CEO who has been the founding entrepreneur of the business may feel that since the company has been able to operate for a very long time without he/she making personal changes ... then change may not be needed. This attitude may fit the story of an individual who jumped off a thirty-story building in the downtown area of a major metropolitan city. He got down to the fifteenth floor, looked around and said, "No Problem Yet." Unfortunately he was in for a very unpleasant surprise.

The "no problem yet" phenomenon is often found in successful entrepreneurial businesses. A business may have experienced relatively uninterrupted success for a long period of time before a wide variety of problems finally accelerate into crisis. Others around the CEO often are quicker to see the emergence of difficulties yet be unable to convince the CEO to pay attention to the warning signs.

As the key decision maker of your company, identify the people around you who will offer you honest communication. They can help you determine when you need to make the changes required to lead your company through the many transitions it will take in the journey from Entrepreneur to Enterprise. Also consider an advisor who has been where you are and has made the personal transitions. His insight can be very helpful as you redefine your role and behaviors and continue to guide your company to the next level of growth.


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