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Tuesday, April 6, 2010

Preparing for Succession Planning… Part 1



1 – Start Dreaming Early
The earlier you start dreaming, the better the chances of success ! Most glass ceilings are meant to keep out Execs, who do not have the ‘requisite’ Credentials or Track Record – criterion that sometimes take years, if not decades, to acquire.

2 – Invest in yourself
Execs aspiring for CxO level positions are often required to possess an MBA from a premier University that specializes in their field e.g. Kellogg for Marketing (CMO), Wharton for Finance (CFO); or other industry certification. IF you really want to be ahead of the pack, never wait for Corporate Sponsorship !

3 - Build a Track Record
IF you want to be a Leader, start with being a good follower. Demonstrate flexibility and commitment by volunteering for (short term) tough assignments in obscure locations. Test and fine-tune your ‘instinct / gut feeling’ along the way – you’ll need lots of it when you get to the top. Remember, it’s not whether you fail that matters, but how soon you recover that always matters. In short, ‘Build your Brand’ !

4 - Nurture your Network
Proactively expand your network across Industries, Divisions, Functions, Geographies… throughout your career. Earn the tag ‘proactive collaborator’, within the organization. Listen, recognize, apologize, be fair and transparent, show respect, be open to ideas from juniors – be the ideal ‘team player’ you want everyone else to be! At the end of the day, you’ll need ALL the references and support from your peers AND Team members, before you get the final nod for the top job.

5 – Rapport with future stakeholders
We often tend to view our current ‘touch-points’ as our only stakeholders. IF first impressions are truly the best impressions, these are often formed when you accompany your boss to a meeting / presentation with his stakeholders. IF you ultimately seek to take your Boss’ place when he moves up / out of the organization, it is never too early to start building a rapport with his stakeholders, to establish name recall, confidence in your abilities etc.



To Be Continued....