Building a lasting legacy entails having a long-term impact on your community or the world at large, and family is critical in this regard.
Many couples start businesses together, and this is an important unit to have if you want to leave a lasting legacy. This isn’t to suggest that divorced couples can’t leave legacies; it just means that doing so in the context of a family makes it bigger, better, and more successful.
Succession is essential when it comes to developing something that will last. The ability to effectively pass on whatever you’re working on to the following generation. Succession refers to individuals who will inherit the business and pass it on to the next generation, and the success of this depends on who they look up to outside of the family.
The people we look up to as role models have a big influence on our ability to develop something that has an impact on the community. Having positive role models can assist us in developing a clear vision and direction for what we want to leave as a legacy.
In order to leave a lasting legacy, the foundation on which we construct it must be strong enough to serve future generations even if the continued legacy shifts its goals to adequately serve its purpose. The changes, on the other hand, must occur while maintaining the underlying ideals on which they were based.
Building a great organization also takes more than having a great leader. A solid foundation should be established institutionally rather than by an individual. Also, it is about more than just making money. The legacy can last longer if it is founded on a core concept and purpose. Although we may desire a specific workplace culture, getting there requires a lot of trial and error. This means that, while developing systems, maintain what works and discard what doesn’t.
When planning for succession, we must ensure that those who succeed will be excellent stewards of the legacy we leave for future generations.