Step 7 - Building Your New Look Business
1 Month Before “Deal Day”
After the initial burst of excitement following the announcement, it’s back to the nitty-gritty of the transition. Each day is full of legal stuff/people stuff/financial stuff, and it feels that as soon as one task is ticked off, another three come along to take its place. I have to remind myself that we’re on the back straight, and I can see the finishing line approaching. Fast.
I can also see how the decision to go Employee Owned is already starting to pay dividends for the business and team. There just seems to be a different vibe about the place since sharing the news - I can’t quite put my finger on it, but I like it.
The election for the Employee Trustee Board members was brilliant to see. People really got behind it, and the level of engagement and the quality of candidates who stepped up were excellent. They’re taking this opportunity as seriously as hoped: it bodes well. The election itself turned out to be closely contested, but the two elected members are exceptional choices. I can’t wait to work with them in their (and my) new guise.
Luke and Lloyd have also taken things to the next level. They are now the de facto leaders of the business, and my shrinking inbox shows that it’s working.
Morale is up.
The numbers continue to go from strength to strength.
Customers are happy.
Maybe I should have stepped back years ago?! I say it half-joking, but there is a gnawing sense that I am from the “old way” of doing things, and the business is pushing ahead without me. I don’t think I have an ego, but if I did, it would be taking a bit of a bruising despite all the good news around the office.
That said, I can’t be ready for the scrap heap just yet: Luke and Lloyd shared a job description for me post-transition. It’s the first JD I’ve had in almost two decades! If nothing else, it highlights that I still have a role of sorts to play. Hats off to them for spotting my quiet existential crisis…
The one concern I do have is that I’m setting Luke and Lloyd up for the same challenges I faced at the top of the business. Their enthusiasm and dedication are impressive - as is their ability to work some very long hours - but I do worry that they’ve not got the work-life balance stuff nailed down. I offer guidance and caution, but I know much of it is falling on deaf ears. They’re young, excited and have each other to lean on, so I shouldn’t be surprised…but I do worry.
All of this, from the elections to the gear change in the leadership team, is about embracing change, learning to adapt, and preparing for a future that, if we’re honest, none of us can clearly define. I tell you one thing - it’s certainly not boring!