5 Ways to Prepare Your Company for Your Absence
Here are five ways a business owner can help him or herself protect against the effects of long-term absence.
As CEO, your first job is the survival of the business.
From his seminal management book, "E-Myth Revisited," Michael Gerber's dictum to "work on your business, not in your business," is the order of the day — especially if you want your organization to be able to function without you.
Here are five ways a business owner can help him or herself protect against the effects of long-term absence:
1. Look closely at your organization and find the holes that need fixing. One easy and minimally risk-free way to do this would be to take a month-long vacation and see what happens.
Or, try experimenting by not immediately solving a problem you would normally fix. See how it gets handled (or not handled) and by whom.
2. Create monitoring reports such that even during an illness or extended absence, you can track the company's vital signs and key financial data to see anything out of whack or trending negatively (the kinds of things only an owner notices and cares about).
3. Establish a clear management hierarchy that takes effect during your absence. Name one person to be in charge and make sure everyone knows who that is and what that means.
If possible, try to earmark a trusted friend or relative who might assume an overseer's role should something unexpectedly happen to you.
4. If you retain sole custody of any key roles in the company, assign at least one or two people to learn about that function.
If you aren't there, they should know what to do.
5. Figure out a lifestyle solution to cultivate energy and health and help you drive yourself, your people and your company to achieve peak performance and sustainable, profitable long-term success.