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I fired me. And It worked out great!
The role of President in an organization is most often positioned as the day-to-day leader of the organization. The person in this role is handling more hands-on business and senior personnel management duties. The Chief Executive Officer (CEO) is most often positioned for high-level oversight and guidance. The CEO is informed of the company’s performance and big-picture matters, present for the important planning meetings, and available as a sounding board for other company leaders. One crucial element of this relationship is the CEO should not be making any decisions without the President.
What I learned from Standard’s leadership transition compared to my observations and experiences with many other similar small business leadership transitions is that, when a long-time leader relinquishes his/her role as the day-to-day leader of the organization, one of two outcomes will likely prevail.
The first scenario occurs when you have poor performers in place when you step back to business oversight from day-to-day management. In this case, the business often really begins to suffer. Unfortunately, in this scenario it can take several years for major issues to show up, and building the business back to previous levels can be painful, difficult, and in some cases, nearly impossible. Bad news travels fast.
When you have great people in place at the time you make this transition, and you actually get out of their way, your company has the best chance for success. Hiring and developing great people, then allowing them the freedom to perform will release the power of these great people, and you will see your company (and employees) thrive. Likewise, attracting/developing young talent to take the company further into the future is vital.
Now, one thing to remember is that in no way, shape, or form should you drop the ball on remaining a leader and setting an example. You should practice “soft management” when you have the right people on the bus, those people are in the right seats, and you will get out of their way. This should result in a “smooth ride,” and you can stand back and watch your people grow as you remain committed to them and their collective experience. Offer advice when requested or necessary, and see your top-notch performers shine.
If you have any questions or comments, please email me, Pete Taylor, CEO and Chairman of the Board at Standard, at: ptaylor@standardexteriorsolutions.com.