Why I’m Not Afraid To Hire My Replacement
Since taking over as President at the small business I currently work at, sales have doubled. Accomplishing this increase over a four-year period took an incredible amount of work, exceedingly long hours, and a little luck. I now realize that utilizing one strategy sooner likely would have yielded this kind of growth in an even shorter period of time. That strategy is simple. When I hire, I look to hire my replacement.
As the business has grown, we’ve added staff. From warehousing to sales, the teams continue to grow. More recently, I’ve added two VPs of Sales & Marketing as well. Over the next year, I’ll be looking for a top-level Operations person. All of these are opportunities. Opportunities to change team dynamics, customer presence, speed to market, profitability, and so many more things. Despite all the opportunities these hires provide, the greatest is the idea that one (or all) of them can replace me as President of the company.
It’s not every day that you run into someone that is actively looking to hire their own replacement. Many people still shy away from hiring or promoting someone they perceive as a threat. As an entrepreneur and small business leader, I’m not afraid to take a different approach. Here are several reasons you should consider taking a different approach too.
1. You’re tough to replace — being able to wear all the hats, engage in banking, legal, sales, and operations discussions doesn’t come easily. There is a big difference between having specialized knowledge vs. general knowledge. Being specialized across all areas of the business is unique. Finding people that have this type of knowledge it hard.
2. The business will grow — bringing smart, talented, and experienced people onto the team will drive growth. If a company isn’t growing, it’s slowly dying. When it’s growing, it’s gaining value.
3. It forces you to review strategy — the world of business is dynamic. Political and economic factors force strategic rethinks on a regular basis. Bringing people onto the team that can help you adapt as they plot to take over your role helps in the short term.
4. It keeps you sharp — second place is the first loser. Having smart, driven people around keeps you on your toes. When you’re sharp, you’re delivering more for the company and for your customers.
5. You have someone to lean on — being a leader is hard enough. Scaling a company and navigating through all the growing pains isn’t for the faint of heart. We all need support and advice sometimes. Being surrounded by talent gives you a shoulder to lean on.
Like many things in life and business, timing is everything. None of the individuals I’ve brought on board are ready to take over tomorrow. Some are closer than others however, they all have areas they need to learn and improve upon. All of them have the potential to fill my shoes one day. Potential is something that any leader and growing company can and should put to good use. Understanding how much time is required to develop the potential you see in people is an important part of the process of hiring your replacement.
By looking at each of your hires through the lens of whether or not they are a viable candidate to replace you, the company benefits. If you own and/or run the company, you benefit in turn. Ultimately, one day you’ll look to sell your business or move on to a new adventure. When that time comes, not being afraid to hire your replacement today saves you time and adds value tomorrow. If you can adopt a new mindset, hiring your replacement may be the best move you can make today for your business to continue to grow in the years to come.
