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Coaching Opportunity!
October 31, 2008
Economic downturns present wonderful coaching opportunities for managers, employees and prospective successors. One of my roles is to assist business owners in developing a curriculum for their successor(s). In family businesses, often times, this includes working outside of the business as well as successfully completing other educational and experiential requirements. These prospective successors are extremely self-assured and are overly confident, despite their lack of experience, especially in managing businesses through an economic downturn. This is a golden opportunity for a prospective successor to learn the dynamics of leadership and managing a business (expenses/accounts receivable, evaluate personnel, hire and fire employees, etc.). As a business owner, are you using this economic upheaval to coach your prospective successor and develop bench strength in your business? As an employee, manager or successor, what lessons are you learning during these difficult times that may prove invaluable to you in the future?
Posted by Dave Ciambella on October 31, 2008 | Comments (0)
