#11 Ed Rowell - 5 Keys to Successful Succession Planning

Ed Rowell is a successful leadership coach and consultant in Colorado Springs. He worked 30+ years leading non-profits and the last 5 years in consulting with construction executives. Today, through Ed's consulting practice, he helps executes and business owners successfully navigate the challenges of succession.

His interest in leadership began when he wrote for a leadership magazine. He was introduced to true leaders that inspired him to become involved in the leadership community. He talked with me about passing the baton and relationships when it comes to leadership roles. He gives us some insight into what a trusted handoff looks like and additionally his definition of “Wealth”. Ed gives us some insight into the work he has done and some of the wisdom he has gained along the way.

5 Keys to Successful Succession Planning

1. You can only measure potential by how a person responds to the opportunity

2. Don’t wait too long or be afraid to let go

3. The relationship is just as important as the task

4. Self-reflection is an important part of being in a leadership role

5. Having honest conversations about expectations is vital

Key Questions from this episode:

1. When do you start thinking about succession planning?

2. What keeps people from a successful succession transition?

3. What does a healthy handoff look like?

4. What are some of the things you've done to help leaders navigate some of this? (Leaving behind the leadership role and what it means for them personally)

You can reach Ed at ERowell@fminet.com

#5 Sharpen your Leadership Acumen ~ 7 Ways Leaders Can Pivot from Crisis to a Catalyst for Growth! Conversation with Drew Hiss

Drew Hiss is a veteran entrepreneur, leadership coach, CEO of Acumen, and author of Sharpen. He gives practical advice to business owners today from his story, the collective counsel of CEOs, and the wisdom of Proverbs. Here are some highlights of our conversation including his latest book Sharpen, the 3Ps, 7 Leadership Pain Points, and the 10-10-10 decision model.  

Crisis in business is a pivotal moment when faith and commerce came together in an integrated way. Business is more than just going to the market with a technology solution; its about people, dependability, and bringing results to the client. You need a servant leader approach working with clients, vendors,  employees, and their families

Learn the business lessons of the 3Ps - Purpose, Perseverance, and Prayer

The crossroads of crisis is where faith and fear intersect. Actively seeking counsel will determine the difference of a crash or the catalyst for growth. It’s in the furnace of fire that our character is honed and the sharpest edge is created. Don’t wait until the juncture of fear and desperation before you to act. It’s hard to live a compartmentalize life and not be cynical. A decompartmentalize life allows my faith to be integrated into how I lead people. 

What keeps leaders from making the right decision before they get to a crisis?

Leadership Pain Points ~ 7 Ways Leaders Can Pivot from Crisis to a Catalyst for Growth

1. Seeking counsel within a leadership community. Surround yourself with truth-tellers

2. Willingness to have high stakes difficult conversations with people. Create a course correction

3. Clear and frequent communication. When you lack clarity things break down organizationally.

4. Create and maintain healthy business partnerships. It requires investment like a marriage relationship.

5. Watch out for the 6-ton sacred cow. Beware of your sunk fund cost basis that leads to a dangerous cash drain.

6. Me vs We thinking. The superman factor can lead to a bottleneck in the organization.

7. Succession transition. Prepare and plan for change. Build up your future leaders.

Maximize these 7 practices to minimize your leadership pain points. 

Drew encourages entrepreneurs to embrace the idea of business as a platform for a higher calling.

Sharpen, a book on business wisdom inspired by Proverbs written by history most successful leader, King Solomon. Sharpen is a proverbs concordance collides with a business owner manual.

To learn more about Drew Hiss and his leadership work in Kansas City visit Acumen and pick up your copy of Sharpen today.