Generational transitons
by Doug Von Feldt and Thomas Underwood Center for Organizational Excellence \ Washburn University
Regardless of size, businesses are typically started as small operations by a founder with an entrepreneurial spirit, someone with the passion and the drive to realize a dream. But the dream of a business achieving long-term success is often short-lived. According the Bureau of Labor Statistics, only about half of businesses still exist after five years and only about a third after 10 years. So, for a business to survive from one generation to the next is quite an accomplishment—one that requires vision, innovative thinking, and a lot of hard work and sacrifice. The founder or leader of an organization who has realized success may become complacent, creating a culture that does not value innovation. In turn, the new generation may not realize the limiting forces of the organizational culture or, if they do, may not feel empowered to challenge it. The succession of a business or organization from one generation to the next is a process that occurs over a period of time. Ideally these techniques or strategies to enhance innovation should be a joint venture—a collaborative effort of awareness, assessment and action. Taking the time to develop an in-depth understanding of your customers, getting everyone involved and becoming comfortable taking risks puts the business or organization in a better position for continued success. The founders and leaders of successful businesses and organizations have taught us that the journey toward success is fraught with challenges, but the biggest challenge in demonstrating the entrepreneurial spirit and having the passion and the drive to realize success is ourselves.
22
Summer 2013
TK...Topeka's Business Magazine
If you are one of those people who need a boost to energize your innovative passions, we recommend three techniques to jumpstart the process.
Understand your customers and what they really need. The best way to understand customers is to put yourself in their shoes. Instead of asking them what they want, go do their job in their environment to see for yourself what they need. This will not only give you insights; it will also show your employees and customers that you really care and are a leader.
Get everyone involved. We live in a time where it is easy and expected to engage large groups to collect and use ideas to drive value. Use crowdsourcing and social media to share ideas and help others to understand what you are about. A true leader will solicit input and let everyone know that ideas are welcome.
Don’t be afraid to fail. This may be especially difficult for the new generation living in the shadow of the organizational founder and leader; they want to show that they can be successful and contribute to the success of the organization. But if we never take risks or step outside our comfort zone, it is difficult to move to the next level. TK