Success and Succession

Over a decade ago, I worked for a company that had a great success story.  Airborne Express had started out flying flowers express around the country.  Competition was tough, but the the company had two distinct leaders that helped to bring the company into the #3 package delivery service in the United States.

It took "the Bobs" as we liked to call them a lifetime to grow the company to that successful position.  Margins are small, and competition is tight in that atmosphere, so the company stayed lean to find profits where they could.

As the founders aged, and new leaders began to emerge, that tight vision and direction began to waver. The economy became tight, and new technology was putting pressure on express delivery service (primarily letters).

"The Bobs" retired, and a new company president took over.  Management changes and vision changes  were rampant.  Rumours of buy-out deals seemed to come almost weekly.  The company profits turned to losses, and projects were faltering.

Finally, it was announced:  DHL would be "merging" with Airborne Express.

The interesting thing to notice is that Airborne Express had reinvented itself multiple times in it's history.  It had adapted to the times and maintained profits, even growth, under trying circumstances.  It transitioned from flower delivery to cargo and freight for example.  Then from freight to express delivery.

"The Bobs" had success with Airborne Express.  Where "the Bobs" really missed an opportunity was in succession.  They had a formula that was working.  But they hadn't taught anyone to how to use it.

In the coming 10 to 15 years, succession is going to be a key factor in success for U.S. companies.  The baby boomer population has the vast majority of leadership roles in our economy today.  Take a look around your office, and ask yourself, how many of your leaders will be retired in the next decade?   Are there enough of your younger employees being groomed to take their place?

If you want to see your company successful 10, 15, or 20 years from now.  It's time to start thinking about who will be leading it now.  Don't wait until you have one foot out the door.  Start teaching and mentoring now.


Tim


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