Big Grower January 2020 - 10

THINK BUSINESS
Are You Ready
TO BE FIRED?
Do you know what's next in your career? Preparing to fire yourself
can create freedom as long as you are in control of the process.
BY MARK RICHARDSON
M
any years ago, I was having lunch with
a business friend who was moving into
his final stages of his career. I asked
him, " So what are you focused on now? " and he
said something that I will never forget. He said,
" I am looking forward to someone firing me. "
Wow! Getting fired has such unpleasant
connotations. Many individuals who get fired
are resentful and question their self-worth. But it
can have a positive implication as well.
If you control the process, then getting fired
creates freedom. It's the culmination of your
talent, hard work and willingness to take risks. It
also means that for many years you have been
looking forward, not backward.
Making this happen means creating a context
in your business that allows you to look forward
beyond the day-to-day management of what you
created. Firing is a gift that you should strive for.
Here are a few tips and insights of how to
frame and be successful in this process.
1. Taking steps. The first order of business is
to look in the mirror. This means creating
a clear vision of where your company is
headed and what you want to see happen
going forward. Once you've achieved this
clarity, it's time to look at your existing
team and ask who has the potential to take
your seat in the future. This will be the
person to fire you.
2. Start early. Finding, developing and
nurturing someone to fire you can take
five to 10 years. If you don't have that
much time, then you need a realistic
strategy to compensate.
EDITORIAL/DESIGN
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I am a huge advocate of growing the
talent on your team, but your seat is
unique and hard to fill. Starting early
means you can promote or hire someone
into a managerial role and use the time
to hone his or her talents. You also might
be considering multiple candidates, and
having more time means you can wait to
see which is the right one.
To prepare, try having some open
conversations with your best candidates
regarding their individual goals and
motivations. At least 50% of the businesses
I work with need to look outside to find
the right person.
Leadership development takes time and
energy. I suggest spending 20% or more
of your time working with your potential
replacement (most spend less than 5%).
I know this sounds crazy but when you
think about the ROI in both the short and
long term it is really a strong return on the
energy expended.
Leadership development can mean
one-on-one discussions, leadership
workshops, and/or providing initiatives
that assist in the employees' growth.
Try also to encourage them to be more
visible internally and externally. Provide
an opportunity to lead and facilitate
meetings. All this energy will help to
groom them for the future.
3. Leverage a coach. Hiring an outside
coach or mentor can help your future
leader, while also giving you a sounding
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board on his or her progress. A good coach
will provide you with techniques and alert
you to any blind spots that need to be
addressed. Leadership coaching can come
from a simple friend of the family or a
more formal relationship.
4. Get team buy-in. This success is largely
your responsibility. You need to do some
behind the curtain politics to set the stage
for the future. This should be done with
empathy but also strategic thinking in
mind. Your future leaders need to gain and
keep the respect of others.
5. Lock them in. Upon moving into the final
leg, you should try to create a financial
program that locks them in place. This not
only gives them motivation to get to the
finish line but also reduces the risks that
they might leave before you get there. I
prefer deferred comp programs or possibly
stock options as opposed to just a promise
for cash or a position.
So, in closing, begin with changing the
paradigm that being fired is a bad thing vs. a
gift. This is a gift that will keep on giving if you
position and act on it correctly.
Mark Richardson is an author, speaker, columnist
and business growth strategist. He has written
several books on business management including
" How Fit Is Your Business? " and " Fit to Grow. " His
latest book is " Control Your Day Before It Controls
You: The 7 Steps to Mastering Your Time. " All of
his books are available on amazon.com. He can
be reached at mrichardson@mgrichardson.com.
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advertising agencies.
10 JANUARY 2020
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Big Grower January 2020

Table of Contents for the Digital Edition of Big Grower January 2020

Big Grower January 2020 - 1
Big Grower January 2020 - 2
Big Grower January 2020 - 3
Big Grower January 2020 - 4
Big Grower January 2020 - 5
Big Grower January 2020 - 6
Big Grower January 2020 - 7
Big Grower January 2020 - 8
Big Grower January 2020 - 9
Big Grower January 2020 - 10
Big Grower January 2020 - 11
Big Grower January 2020 - 12
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https://www.nxtbook.com/greatamericanmediaservices/GPN/big-grower-january-2023
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