Stay or Step Aside: Evaluating Your Leadership’s Effect on Company Success

Several months ago, I wrote about getting fired and the career and life transition that it brought about. That seemed to resonate for many of you. That got me thinking more about the benefits that may come from getting fired. Staying on that theme, but with a slight twist, let’s address the issue of firing yourself (or at least stepping aside).

Over my career, I've often witnessed entrepreneurs and visionaries—who start companies and create something dynamic, powerful, and valuable—stay too long. As it turns out, the founder—who was the visionary, the creator of organizational value, a risk-taker, and the catalyst for growth—becomes the equivalent of a boat anchor. At best, they slow growth; at worst, they stop it.

To be clear, I'm not suggesting that every founder should leave the firm. Many do an admirable job of personal and professional transformation and remain an asset. They are the flag bearers of culture and corporate values and help keep the ship on course.

What I am suggesting is that every founder take a serious look at where they are today and their role in the business or the organization (profit or not-for-profit) and ask themselves, “Is this organization better off by having me at the leadership helm, is it time to step back and let a new leader move the organization forward, or leave entirely?”

These are tough questions, but necessary. The things that keep people in positions of authority and leadership far too long can include ego gratification, the desire for power, greed, complacency, laziness, no purpose or identity beyond work, and a lack of self-awareness. Alternatively, for some, it appears to be a noble cause – the quest to build something even bigger and better (sometimes, this is no longer possible or realistic). It can also be peer pressure: “You did it once. You can do it again, and even better this time.” Maybe or maybe not. ?

I believe one of the main issues of founders staying too long is a lack of self-awareness. As we go through life, we age and things change – for better and/or worse, whether we want to admit or accept it.

I encounter this frequently in my advisory, consulting, and coaching roles with family businesses, corporations, not-for-profits, and faith-based organizations.

Perhaps the antidote to firing yourself is to TRANSFORM YOURSELF!

If you come to the realization that you should STAY, that likely means moving into a different role, realm, and reality. Perhaps it’s time to make room for the next generation of leaders by creating new opportunities, but from the sidelines. Can you be the advocate and sponsor for those on their way up? Is it time to step away as the leader and transition into a new role of mentor, coach, and teacher?

I’m encouraging those of you that are top tier leaders to take a step back to pause, reflect, and look at what you're currently doing and ask yourself the tough question, “Am I still adding value?”

My comments are not targeting anyone or any organization. They are general and meant to stimulate reflection. Start thinking about your “best before” or “expiry date” relative to your impact, importance, and contribution.

Stay, Transition, or Leave?

If you are contemplating your future and deciding whether to stay, transition, or leave, reflect on the following questions.

·?Are you looking inward before you look outward?

·?Is the impact that you're having positive, negative, or neutral? Do you have truth speakers that will validate your perception or assumptions?

·?Are you willing to take personal risks and challenges to grow and transform into who you need to be for yourself, your family, and for your organization?

·?Are you stuck and afraid to change so you do nothing?

·?Are you still passionate about leading the company?

·?How will stepping back or away impact your identity and self-worth?

5 Stages of Decline

Now, to go even deeper on this important topic, I recommend the book, How the Mighty Fall, by Jim Collins. He lays out the five stages of decline as indicators and an early warning plan on how to avoid failure and engage in course correction. I’ve given the book to various clients over the years to encourage them to begin the process of reflecting and making critical decisions while they have the benefit of time and resources to modify or make major changes.

Stage 1: Hubris born of success

Stage 2: Undisciplined pursuit of more

Stage 3: Denial of risk and peril

Stage 4: Grasping for salvation

Stage 5: Capitulation to irrelevance or death

Visit Collins' website for a succinct and insightful summary.

You can pay now by being wise and making strategically beneficial choices for you and your firm, or you will pay later due to avoidance, neglect, or arrogance.? Either way you pay. You decide how much and when.

A wise founder leaves their organization at the time when it will do better without them.

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