Introducing The Succession Matrix Tool.

facebooktwitterlinkedinby featherSuccession Matrix- ChinskyLeaders often hold back when it comes to delegating important work to others. Among the more popular barriers to delegation are:

“I can do it better and quicker myself.”

“It takes too long to explain.”

“I can’t give away important tasks.”

“There’s no one I can trust.”

Click on my recent post regarding the consequences of this very problem. Succession? Tips From The Kids

I have attended countless coaching sessions during my financial planning career (as my wife often reminds me), and have become accustomed to using a wide range of  stretching tools to help make better decisions.

Because of the inherent nature of succession planning, there are a myriad of issues- Financial, Legal, Accounting, Emotional, Family; you name it, succession planning has it.

So when I recently spoke to Dr.David Chinsky, author and founder of  Institute for LeadershipFitness®, (yes, one of my past coaches), I was intrigued to discover his “Succession Matrix” tool.

As David says, Our vision is simple: to create vibrant leaders who enjoy balanced lives marked by personal health… and sustained contribution.

You may especially find the section on “Talent Mapping and Delegation” useful if you have multiple family members as key managers, or multiple non-family members as key managers.

Regularly setting aside time to map the strengths, needs and improvement opportunities for your organization’s human assets can help ensure that the organization’s top talent is getting the attention, rotational assignments and other developmental opportunities necessary to keep them engaged and committed.

If you need a clean PDF for easier printing, send me an email and I’m happy to forward it to you.

Succession Matrix- Chinsky

 

Please note: David Chinsky is not affiliated with BH Wealth Management or First Allied Securities.

 

 

 

 

 

Written by Jaimie Blackman

Jaimie Blackman

Jaimie Blackman has created Sound Financial Decisions ™ powered by MoneyCapsules®, to help guide business owners through the complexities of succession planning.

Jaimie writes “Smart Succession”, a monthly column in Music Inc., and also writes a bimonthly column for Canadian Music Trades magazine. He has spoken at NAMM U Idea Center, and at Yamah’s Succession Advantage.

As a financial literacy educator he has taught at New York University and has lectured at the 92nd Street Y, Marymount Manhattan College, and CUNY.

As President of BH Wealth Management, Jaimie also helps his clients implement investment and insurance solutions which are aligned to their personal values. Visit bhwealth.com to learn more.

To subscribe to Jaimie’s Succession Success: Insights for Music Retailers, visit moneycapsules.com.

The purpose of this post is to educate. Our content should not be construed as advice. If legal, tax or other advice is required by the readers, professional advice should be sought.

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