Ask A FEA – Barb Schimnowsky on Managing Uncertainty

Question: As we try to navigate our company through COVID, how do I get my leadership team to step up a level and help lighten my load?

BARB: I believe the first question you need to ask yourself is, do you have the right people and the right organizational structure? Assuming you do, how you lead could be having a big impact. As CEO, you shouldn’t be coordinating the daily work of your leadership team. Instead, you should be delegating leadership roles to others on the team, informing them on what the priorities are to focus on and holding them accountable. Setting clear expectations and agreeing as a team what decisions will be made by you and what decisions can be made by others, and sticking to this, will also help to ease the onus on you to be making all the calls.

Question: If I’m honest with myself, I don’t think I have what’s needed to lead the company through these uncertain times, but I don’t have a successor. Where do I begin?

BARB: You’re not alone. I have a number of organizations I’m working with where the CEO/owner has realized they don’t have the energy to drive the business. In one instance, it’s an uphill battle, and in another case, the business is operating at rocket speed and they can’t keep up. It’s important to take a step back and look at where the business is currently at and where you expect it to be, three to five years out. Put a critical eye on the company and the existing leadership team. Determine the knowledge, skills and experience that will be needed in the next CEO, and the key imperatives that must be achieved. And most importantly, what personal characteristics are essential for the next CEO to possess to ensure they align with your family’s values and the organizational culture. In other words, what will success look like? This profile will then be the guide you use to assess potential candidates.