My father and my manager retired around the same time last year. They come from a generation that believes that hard work is the most important guarantee of success. Their farewell prompted me to think about what I wanted to have achieved at that point in my life. What do I want to leave to the next generation? Had we properly thought through the succession of such an important key position?

Lessons from the past

When I asked my manager what he wanted to leave behind, his answer was: “a strong team”. But his successor eventually had to be recruited externally, because the board didn’t recognise the right person in the existing team. How is it that we couldn’t find the right successor in our own ranks at the time?
My father had already arranged his succession at an earlier stage. He had taken a young, talented employee under his wing, and slowly transferred his tasks and responsibilities to him. Even when he took over the job, my father continued to supervise the transfer as a coach for a period of time. This was a win-win situation, because the successor could grow into his role much more quickly and smoothly, and my father could hand over his position – and with that his legacy – with satisfaction and dignity.

What actually is my legacy?

During this period, I started thinking more about my own legacy. My gut feeling was confirmed by a mentor. I went to him because I wanted to understand the deeper emotions behind the behaviour of entrepreneurs and executives. Why do they make the choices they do? On a number of occasions, for example, we had already reached a very advanced stage with entrepreneurs so as to ensure their succession. Their journey to the next phase of successful growth or turnaround had already been mapped out. Yet, at the very last moment, it was decided otherwise.

He asked why I do what I do? And why I was so keen to be an entrepreneur. Those were both very good questions! The answer that followed was my desire to build a brand that
people will recognise and remember. A strong name with a legacy for the next generation(s). Maybe even for my own children should they have the same ambition. That made a full circle. I set up a company that helps entrepreneurs and executives to organise and secure succession. To find the best suitable business successors to secure the future and therefore their legacy.

I’ve spoken to many entrepreneurs, executives, and families who are dealing with succession issues in one way or another. Many recognise the urge to create a legacy. And if we’re honest with ourselves, there’s a certain self-glorification behind this that drives us to build an empire. And they all want their life’s work to continue in trusted hands. Whether that’s their own family or not.

Many roads lead to Rome

There are many ways to organise business succession, but in the end, it’s mostly about trust and vulnerability. Trust in the person, trust in the organisation, and trust in the model. And daring to be vulnerable. Daring to discuss the things that are not normally expected of the self-assured director-major shareholder (DGA), and being open to other ideas. For example, in the short time that I’ve been doing business again, I’ve spoken to entrepreneurs who were confronted with the facts after much hard work (heart attack, broken families, you name it…). These entrepreneurs have therefore started to look at their legacy in a new light. Business succession doesn’t always have to happen at the end of one’s career. Sometimes it’s better to cash in on your future in time to enjoy your success.

How do you want to be remembered?

I recently spoke to a former colleague who took over one of his father-in-law’s companies. Unfortunately, his father-in-law passed away at a young age, but was able to ensure that the company could continue in trusted hands, and that the family was a stable unit and ready for the challenges that would come (without the front man). He told me that the number of people who wanted to attend the funeral was overwhelming, and that everyone spoke about his father-in-law with love and respect. This is his legacy. How do you want to be remembered?

Some CEOs are so full of themselves that they think that it’s more important to have a street named after them than to make or keep the organisation healthy. Instead, they’re so distracted that they completely neglect the organisation. This is incomprehensible, but it happens all the time!

Now that I know what my legacy is, it gives me a lot of peace and satisfaction. Nowadays, we talk a lot about purpose and the ‘why’. By now, everyone has heard enough from Simon Sinek, and it’s time to think practically about your own why and not the why of the organisation. It’s clear that millennials need a purpose to connect themselves to the business and to get out of bed in the morning. They may not be working on their own legacy yet, but they’re working on cleaning up the legacy of our generation. They’re trying to build a sustainable future. This completes the circle once again.

You don’t have to make the world a better place

Your legacy doesn’t have to be solving world hunger. Sometimes the difference you make for one person can be your legacy. It’s not hard to find purpose in life when we think about what we want to leave behind. Whether it’s through a bucket list, pursuing a higher goal, or building a great future for your children. What do you want to leave behind, and how do you want to be remembered? For me, those are the two most important questions. I want to be successful, but by always being true to myself and treating everyone truthfully and sincerely as I would want to be treated. My father didn’t only ensure his succession in the company, he also passed his legacy on in my values. I’m passing this on to my own children. And so, it becomes part of our common legacy.

Live your legacy!

A legacy is not something of the past or the future. You live your legacy every day. We can’t control how other people see or appreciate us. We can only inspire others through our actions. We are what we do. If you look into history, the most influential legacies are those who inspired others with their own actions. They didn’t think about actions or telling others what to do. No. They got things done themselves through action! They may not have been thinking of their legacy yet, but unconsciously they were building it. Their actions and results eventually became their legacy.

My passion is to help companies, entrepreneurs, and professionals secure their legacy. Your goals, your vision, and your future. This is a journey we embark on together, one in which trust is key. And who are the people who fit into this? Nobody knows exactly where the journey will end and with whom, but I’m sure it will be very rewarding. What is your legacy?

By: Dorus Swinkels