Leadership teams must evolve for success
The leadership team in small and medium sized businesses has to evolve all the time. As a start-up it’s obviously important to have a great idea and to be able to take that to market and to start employing one or two people, but as you grow the whole ethos can change. You have to introduce a new layer of management.
You have to think about setting up a new board process and sometimes actually you need to think about whether the team that enabled the company at a very small part of its life cycle is the same leadership team which is going to be successful once it gets to 100, 150 people. Sometimes some very tough decisions have to be made at that point, but it’s those leadership teams that are able to self-assess, succession plan, who are the ones who are most likely to be successful.
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