1-855-922-BOAR

Building a Business Legacy That Lasts

Tuesday, May 11 | Executive Insights

Most leaders, at some point in their career, strive to leave a legacy in this world in some way or another. When it comes to CEOs, business owners, and executives, making a mark in the world with your business, setting up the company to live long after you are gone, and putting your stamp on the future by leaving a legacy for the next generation, is not only important, for most of us, it is essential.

The questions I have for you are:

  • What kind of legacy are you leaving?
  • Have you thought about what you want it to be?
  • Do you have a succession plan should something happen to you?
  • Who is next in line and what are you doing to get them ready?

 

There are 5 suggestions I have for leaving a legacy of inspiration and leadership:

  1. Purpose – Make sure everyone understands the purpose of the organization and their place within it.
  2. People – Ensure you have the right people in the right seats. Treat them well, encourage them to learn and grow while providing them with the tools to succeed.
  3. Processes – Make sure all your processes and procedures are documented and that no one person, including yourself, is indispensable. The strongest companies are the ones that have processes documented in such a way that the organization can almost run itself. Also, companies that run independently of their owners are more valuable to a buyer.
  4. Prioritize Leadership – Show the next generation what it looks like to lead your organization. Live your core values daily and require others to do the same.
  5. Publication – Write the plan down and share it. Those that are important in your life and in your business should know that you have a plan and that the plan is ready and able to be implemented in the case of an emergency.

 

Leaving a legacy involves the alignment of personal aspirations with those of the organization. Having a plan and working towards that plan provides executives the peace of mind of knowing their company will live on. If you haven’t yet, I invite you to think about the legacy you want to leave and start working on it today. Tomorrow is not promised and only you have control of the legacy you leave.

Archive

Contact BOAR

12 + 4 =

For immediate assistance or more information about BOAR call 855-922-BOAR