This week I attended the S. Dale High Family Business Center and heard Howdy Holmes speak. Howdy is President and CEO of Chelsea Milling Company – better known as “Jiffy” mixes.
Howdy also spent twenty years of his life as a professional race car driver before finally returning to the family business. It was an interesting story he shared about the transition into the business and ultimately taking control of the business.
He spent a fair amount of time sharing stories about the succession and how it was not always welcome – or easy. He suggested that succession in family business requires hard work and open communication. He spoke about how stakeholders (employees) often have a greater contribution to the success of the organization than do the shareholders (family).
He talked about entitlement in family business. Shareholders often feel entitled and often equate ownership with leadership, when in fact, that is incorrect. Ownership is inherited, while leadership is earned!
He shared how family is often blinded and needs an objective outsider to assist family members during a transition (this is usually an adviser, Board of Directors…).
He spent a fair amount of time sharing his keys to leadership which is a condition of servitude:
- Being faithful is more important than being successful. If we are successful in the world’s eye, but unfaithful in what we believe, then we fail in our efforts at leadership.
- Corporations can and should have a redemptive purpose. We must understand that reaching our potential is more important than reaching our goals.
- We need to become vulnerable to each other. We owe each other the chance to reach our potential.
- Belonging requires us to be willing and ready to risk. Risk is like change – it is not a choice.
- Belonging requires intimacy. Being a leader is not a spectator sport. It means adding value. It means being fully and personally accountable. It means foregoing superficiality.
- We need to be learning together. The steady process of becoming goes on in most of us throughout our lifetime. We need to be searching for maturity, openness, and sensitivity.
- Offer help without taking the credit.
- Model interdependency with your employees.
- Your scope includes strategic and tactical application.
- Delegation means you participate to show support, show interest, and understand the issues.
- It does not mean others must chart the course. Without frequent involvement, the context and content considerations are not understood.
- Enablement, not empowerment. (Enablement means with; empowerment means for).
- You can’t think your way into acting; you act your way into thinking.
- We judge ourselves by our own intentions; we judge others by their behavior.
Hopefully this checklist will help you to think differently about leadership. Overall, Howdy Holmes had some excellent stories and ideas that challenged my thinking.
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