Embracing Change and Building A Legacy
Three times in three years, I have plunged into executive-level contract roles – CEO of a large private health centre, COO at PREKURE, and, most recently, COO at Toitū Envirocare.
Each contract brought unique challenges and opportunities. These experiences provided invaluable insights and shaped a clear vision of what I want to do next, and for that I am très grateful.
The three roles were catalysed by different situations (maternity cover // new CEO // new strategy) in different business models (publicly // privately held // commercial // not for profit) at different life stages (from start-up to 80+ years), with vastly different operating models and cultures. However, common learnings have transcended the differences:
1) People work hard, mostly with excellent intent but not always with excellent impact and it’s rarely their fault.
Success hinges on more than just hard work. When a leadership team focuses on alignment, ensuring teams are working on achieving the right outcomes (not outputs), and fostering a rich and inclusive culture, much more is achieved than what just hard graft can. More learnings, more value, more trust. This is great business leadership!
2) Business is not (just) business.
You cannot separate the human element from business, it is such a material factor. Beyond the balance sheet, there is heart, risk, wellbeing, struggle, friendships, ego, legacy and vulnerability at play. These human elements intertwine, shaping the business's identity, impact and longevity. Short and sweet (sometimes bittersweet) this learning.
3) Succession planning is key.
Whether a business is big or small, privately owned or institutional, a start up or an octogenarian AND whether you are looking to sell / exit or not, succession planning is important. It’s also hard, and it gets harder the longer you leave it.
Succession is about knowledge transfer - this requires generosity, patience and intention
Succession is about owners / leaders working to lessen reliance on themselves - this requires a low ego, high trust model
Succession is about knowing how your organisation creates value and doing everything possible to bake this in - this requires operational clarity
Succession is about nurturing a culture where fresh perspectives are welcomed and valued - this requires being willing to get out of the way.
Succession is hard. There is much to be gained though. It isn't just about preparing for the end; it's about securing the legacy and setting up the business to keep creating value. And of course, it’s about humans.
Herein lies my mission - to help people design their businesses and teams to be healthy, focussed on both legacy and value creation and to help them have the right conversations, especially the hard ones. And secondly, to find like-minded people to learn and work alongside while doing it.
Next, Warren Meyer and I will be studying the operating model of a privately owned-operated business that is thriving and wanting to look ahead to secure a strong future. Can’t wait to dive into this mahi and help the owner and team bake in the things that matter most to their enduring success.
Meanwhile, a big whakawhetai ki a koe to the leaders of the businesses that have trusted me to take the plunge and run alongside them for a bit. Much love.
Erin Meads Simon O'Shaughnessy Louise Schofield Grant Schofield Teressa Betty Kirsty Thomas
