The Importance of Having a Backup Plan for Your Business

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Too often we focus on the team we have and how they are performing, but rarely do we consider what happens if someone in the team leaves. Having a backup plan is crucial if you want to scale your business, as good people are key to the growth of your business.

Think About Succession

Its very easy to forget about succession in a fast-growing company. You’re so focused on the now that you have little time to think about tomorrow. However, the truth is people leave and move on to new opportunities. And if you are not ready for it, it can be a big hit.

While we may spend time giving people opportunities and helping them to grow, this does lead them to become more valuable and more likely to move on to new opportunities.

Having a plan B or backup plan is crucial to the long-term success of your business.

How To Replace Key Roles?

How do you replace key roles in your business? It can be hard to replace key roles in your business as they often require a certain level of understanding of your organisation and way of working. One of the best ways is to develop people from within to be ready to take the reigns when needed.

Think of the people you are developing as your bench. They need to form a key part of your strategy, supporting your main team where and when needed. Give them opportunities and places to shine and they develop and get ready for the starting line-up.

Who Do You Develop?

So, who do you develop, how do you choose? The first step is to ensure they have the key competencies to fulfil the role. After that look for soft skills that are hard to develop, a skill such as resourcefulness.

Overall the best way to choose is by testing people. Give them opportunities to show their ideas and capabilities in a safe environment, challenge them and watch how they react under the pressure.

Tough situations will show someone’s true character, do they work with the team, or do they shut down? Do they motivate or dictate? This will show you their true character.

Developing people takes time, dedication, and energy. But at the end of the day, you need to scale people to scale the business.

 

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