Investing in the future of your business

A guest blog from Andy McCreadiee of Sandler Training South West.

Many business owners and leaders are so immersed in the day-to-day running of their businesses that they struggle with their work/life balance and fail to dedicate the time to plan for the future. Every business should have a five-year plan with clearly mapped out strategies and processes to get them there. Investing in the future of your business should be crucial in any plan.

Have you defined where you want the business to be in three to five years’ time? If you’ve done this, do you know who beyond the existing leadership team will help you get there? Furthermore, what skills will they need to learn or develop in order to help you successfully achieve these long-term goals?

Identifying your emerging leaders is critical for any business; skills can be taught but they must have the right raw ingredients and attributes, be willing to learn, grow and fit the company culture. If you have identified these people, are you committed to supporting them in learning and developing the skills and disciplines they need to thrive in their roles?

I often come across business owners who are desperately trying to figure out why their mid-level managers aren’t performing as they had hoped. Typically, they were either promoted too early, they lacked the necessary key values and attributes, or they weren’t effectively supported with a clearly defined, long-term development plan. This plan must identify skills gaps and address training needs around key leadership and management competencies such as goal setting, accountability, problem-solving and coaching in order to follow in your footsteps.

Tips to identify and facilitate your emerging leaders:

• Assessment: tailored assessment tools can be used to help give an accurate profile of an employee’s strengths and weaknesses and whether they have potential as a manager or leader.

• Values: compare the core company values with those of your potential emerging leader. Is there a strong enough cultural fit?

• Improving performance: most managers and team leaders simply don’t have the tools and skills to maximise team performance. Companies must identify these gaps and provide support through ongoing training to ensure their success.

Sandler works with clients to create inspiring leadership and high-performance cultures. Improve your work/life balance and work smarter by developing your next tier of management. After all, a leader’s success is measured by those who follow them…