The Retirement Message

"This may come as a big shock to you but I have decided to retire, and frankly, I'm really excited about it."

"Let me explain. Last year was a disastrous year with many of our global clients, and it impacted us in virtually all product areas. The way we used to be able to produce results for existing customers, and sell to new prospects, has changed forever. What worked even 5 years ago isn't working as well now."

This was the first line of the “Update” email the 45-year-old CEO sent out to his management team. Some were so shocked by the news that they called him immediately and left voicemails, before reading the rest of his email. It went on to say…

"And so, we're faced with the challenge, "What do we do now?" Well, it's not rocket science folks, it was time I retired - and so I am choosing to retire some old business habits and structures that no longer appear useful. I've also retired a few previously held business assumptions, and some assumptions about the value propositions our customers want from us. The rapidly changing world will challenge us all to retire each year, and requires us to be agile as we initiate new ways of doing things, retiring the old habits of previous economies.

I may be retiring some past assumptions, but I am excited about our continued learning, and am creatively planning more future change with you as we continue to grow the company."

He went on to articulate major changes he had recently made, as well as future changes he was planning (personal leadership areas as well, i.e. regaining his fitness routine, travel schedule, etc.) He ended the email to his team by asking them to come to their next meeting prepared with a list of practices or assumptions/beliefs each needs to "retire". His intention was to have a discussion on how we can create greater stakeholder value through "retirement", and he wanted this attitude to permeate the entire organization.

The achievement of growth in rapidly changing times requires that we on occasion hit the pause button (and turn off the smart phone distractions) to reflect on where we have been, where we are going, and what we need to do – but also what we need to "retire" or stop doing. This is commonly known as "Creative Abandonment".

Dr. Rick Warren (a pastor and best-selling author of A Purpose Driven Life) regularly met and conferred with management thought leader Peter Drucker for over a decade prior to his passing. In a Forbes article, Drucker spoke to the issue of ‘creative abandonment’ as it was addressed in one of their meetings:

“A critical question for leaders is, "When do you stop pouring resources into things that have achieved their purpose?" The most dangerous traps for a leader are those near-successes where everybody says that if you just give it another big push it will go over the top. One tries it once. One tries it twice. One tries it a third time. But, by then it should be obvious this will be very hard to do. So, I always advise my friend Rick Warren, "Don't tell me what you're doing, Rick. Tell me what you stopped doing."

No matter what you do or what your role is, answering this question honestly will help to enhance your personal and professional effectiveness: What habits of action or thought should you "retire"? If you are managing/coaching others, you may be supporting their effectiveness in posing this question to them. Even in personal relationships, it can be an interesting question to discuss with your spouse (over Valentines dinner? Guys, you’d better be sure you listen and work on it). In this rapidly changing world, if you reflect and plan to "retire" some habits every year, you will ride the wave of change with continued opportunities.