Clarify the Bigger Future
The first step in creating an effective plan for a transition to the next stage of your business/lifecycle is to clarify that bigger future - what we call your house on the hill - and ensure that your family/team share that same vision.
In the illustration, the mansion on the right represents your bigger future - your desired level of success or accomplishments
. While there's nothing wrong with where you are today, the smaller but comfortable cottage on the left, most entrepreneurs prefer to keep building. Any great structure begins with a strong foundation
. Trust is essential, as is strong leadership in every generation. Surrounding both of those is the principle of stewardship - building and nurturing the family and the business so that it is a source of wealth and pride for generations to come.
That's not all. There a number of additional pillars that must be erected before you can reach the dollars and fun at the peak. These pillars will support the entire structure. You need to have a direction - a common interest in where you are headed. You will need to work on establishing clear roles and responsibilities and ground rules. It is also important that you stop and recognize what you have achieved along the way - stoke up the engines for the next part of the project if you like.
Construction begins with The SuccessChart™ - a simple but exciting process that helps you examine your options and clarify what your house on the hill should look like.
- It recaps the hurdles and threats you dealt with in the past and how they impacted the direction you took to get to where you are today.
- It explores the opportunities to continue to build a foundation and structure which helps ensure business continuity and success
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