I have to admit that I really enjoyed watching the Broncos win the Super Bowl. Although I am a die-hard Chicago Bear Fan, my second favorite team are the Broncos. I also like Peyton Manning as a hardworking, talented player. Him winning the Super Bowl over the Bears helped me get over that loss.
The business side of the Denver Broncos, is a good lesson in Succession Planning. The owner, Pat Bowlen, had to step down from day-to-day business operations 2 years ago. Even with the owner ailing, the Broncos won the Super Bowl. Pat Bowlen put a management team in place long before he became sick. This not only allows the business to continue to be successful, it makes the ownership of the business more attractive to potential buyers, if something does happen to the owner.
The last time the Broncos Won the Super Bowl, John Elway was the Quarterback. This time, John Elway is the VP of Football Operations and General Manager. My understanding is that during the last few years of Elway’s playing time, he spent some time with the General Manager, learning how to run the team. Since he has taken over, he had to make some tough decisions, including firing Legendary Coach, John Fox (to the Chicago Bears benefit). Elway thought Fox could not get them a Super Bowl Victory, and with Peyton Manning getting older, he had to make a decisions and live with it. It turned out to be the right one!
What tough decisions have you been putting off making? Are you setting up your business for Success even after you leave it?