Part of owning and running a business is facing the fact that, eventually, you will no longer be there for your company. If your business is successful, you will one day be leaving it to someone else, whom you hope will run it with the same success that you have had. If something were to happen to you right this moment, what kind of legacy would you leave your business?
Would your company be able to take your plans and your dream and make them a reality? Would the impact you had be able to keep your business running successfully? You want your business to continue in the successful path that you lay out. Here are some tips for leaving a legacy for your business.
There are a couple of questions you must ask yourself. Each of these questions will give you an answer that is going to change how you react and what action you need to take. It is important that you consider this carefully since your legacy and your business will depend on the actions you take now.
1. Have I hired employees who genuinely care for my business? Part of leaving a legacy means that you leave a part of yourself in the employees who are left to run your company. Make sure that you choose at least a couple of workers who invest themselves in your business at least to an extent in the same way you have.
If you leave your business to employees who are not invested, then they could either sell your company or close it completely.
2. What am I working toward in my company? If you have no real goal or no real vision for your company, then you may be just spinning your wheels. Are you working simply to get by, or are you working because you care? If you are just getting by with no clear goal or dream, then most likely, that is what you will pass along in your business.
You have a choice. Either you can give your company meaning, or you can leave it empty. This choice will directly impact the legacy that you leave.
Of course, you hope that it will be many, many years before you ever have to leave your business in another's hands. However, you must think about your legacy now so that you can work to create the one you want. Legacies do not just happen. Since the fate of your business is up to question, make sure you construct the legacy you want to leave.