The following post was filed as a media release from the Club Red Inspiration this week:
19th September, 2011
Perth Businesses can Learn from Apple’s Example
While business leaders around the world were shocked at the news that IT giant, Apple’s CEO and acknowledged ‘ideas man’, Steve Jobs had stepped down from his role recently, the situation provided a valuable lesson.
Perth business coach, Tony Inman, said that local business owners would do well to follow Apple’s example by being prepared for the possible loss of their greatest asset – themselves.
“It makes absolute sense to train a member of your team as your Deputy, even if only to cover you if you’re sick” said Mr Inman.
“We’ve seen that Steve Jobs has spent some years now grooming his replacement, and local businesses should be doing the same,” he said.
“In order to be truly successful, business owners must start with the end-game in mind.”
“Business owners and managers who don’t trust their people enough to train them for that extra responsibility actually only succeed in making their own job harder.¨
“But we coach them on the importance of effective delegation and succession planning.¨
“Let’s be honest here – a lot of bosses are afraid of delegating to someone who might do a better job than they do.¨
Mr Inman said there was no better feeling than taking a holiday, knowing that your staff were making your business make you money, and enjoying doing so, while you were away.
He called on all businesses to consider their own succession planning in light of the Apple situation.
He said delegation and evolution of responsibility provided businesses with many benefits including:
- A more empowered and valued team
- Higher staff morale and retention rates
- Freedom for the boss to work on the business more, instead of in it
- The flexibility to re-invent the business if it is threatened with a crisis, even that of losing its boss
Mr Inman noted that Apple had groomed Steve Jobs’ replacement, Tim Cook, knowing that their ailing CEO was battling cancer, so the business could carry on, not only as usual, but also able to deal with even more technological advances.
“So many business owners never even consider this aspect of their long term future, but it can be so important.¨
“Every successful business, no matter how large or small should have a succession plan.¨
Club Red coaches business owners to be more effective, so that they can lead more fulfilling, less stressed and ultimately happier lives. Information is available from http://clubred.com.au
Tony Inman has over 34 years of management experience, mostly in retail, tourism and coaching, of which over 17 have been spent running his own businesses here in Perth.
He is also a business mentor at Curtin University’s Entrepreneurship Unit.