The Role of Mentoring &Coaching in Facilitating Succession Planning in Small Businesses in Cameroon (Africa) by Dr. Javnyuy Joybert

The Role of Mentoring and Coaching in Facilitating Succession Planning in Small Businesses in Cameroon by Dr. Javnyuy Joybert

Let me define key words first:-

Succession Planning: The process of identifying and developing potential leaders (in this case children) within the family or organization to ensure a smooth transition of key roles when current business (parents) leaders leave, retire, or are no longer available

Mentoring: A relationship-based process where a more experienced individual (in this case a parent) provides guidance, advice, and knowledge transfer to a less experienced individual (mentees — children) within the same business. It helps transfer knowledge, and invest in the future growth of the individuals (children)

Coaching: A structured and goal-oriented process where a professional coach provides feedback, guidance, and support to an individual to enhance their skills, behaviors, and perspectives. It focuses on improving on-the-job performance and maximizing personal and professional potential.

Introduction:

Succession planning is a critical process for small and medium sized family businesses in Cameroon to ensure the long-term sustainability of the business.

However, many small business owners in Cameroon struggle with succession planning due to a lack of knowledge, skills, and resources. This article explores the role of mentoring and coaching in facilitating succession planning in small businesses in Cameroon.

Using a qualitative research design, this study involved in-depth interviews with 15 small business owners in Cameroon who are members of an online business training group.

The findings suggest that mentoring and coaching can play a significant role in facilitating succession planning by helping potential successors develop the skills, knowledge, and experience needed to take over the business, and by helping current owners prepare for the transition. The article concludes with recommendations for small business owners in Cameroon to prioritize mentoring and coaching as part of their succession planning efforts.

Background:

Small and medium sized businesses are an essential component of the Cameroonian economy, accounting for over 90% of all businesses in the country. However, many small businesses in Cameroon face a significant challenge of succession planning as many of these businesses have strong family ties. According to the African Development Bank, only about 10% of African family businesses survive to the second generation. This underscores the importance of succession planning for small businesses in Cameroon to ensure their continuity.

This study used a qualitative research design, which involved conducting in-depth interviews with 15 small business owners in Cameroon. The interviews were transcribed and analyzed using content analysis to identify key themes related to the role of mentoring and coaching in facilitating succession planning.

Results:

The findings of this study suggest that mentoring and coaching can play a significant role in facilitating succession planning in small businesses in Cameroon. Specifically, mentoring and coaching can help potential successors (children) develop the skills, knowledge, and experience needed to successfully take over the business from parents. Mentoring and coaching can also help current owners prepare for the transition by providing them with guidance on how to transfer their knowledge and expertise to the next generation.

Additionally, the findings suggest that mentoring and coaching can help overcome some of the common challenges associated with succession planning in small businesses in Cameroon. For example, mentoring and coaching can help potential successors overcome the fear of failure, lack of confidence, and uncertainty about their future role in the business. Mentoring and coaching can also help current owners overcome their reluctance to relinquish control and help them identify potential successors who are a good fit for the business.

The findings of this study align with previous research that suggests mentoring and coaching can play a critical role in facilitating succession planning in small businesses. In the context of Cameroon, mentoring and coaching can help overcome the unique challenges that small business owners face in the succession planning process. For example, small business owners in Cameroon often struggle with issues related to family dynamics and cultural norms, which can complicate the succession planning process. Mentoring and coaching can provide a structured and objective approach to succession planning, which can help small business owners navigate these challenges more effectively.

Succession planning is a critical process for small businesses in Cameroon, and mentoring and coaching can play a significant role in facilitating this process. By prioritizing mentoring and coaching, small business owners can help potential successors develop the skills and knowledge needed to successfully take over the business. Mentoring and coaching can also help current owners prepare for the transition and overcome common challenges associated with succession planning. Overall, mentoring and coaching should be considered an integral part of the succession planning process for small businesses in Cameroon.

Recommendations:

Based on the findings of this study, the following recommendations are made for small business owners in Cameroon:

• Prioritize mentoring and coaching as part of the succession planning process to ensure the long-term sustainability of the business. In Cameroon, it is frequently observed that family businesses face challenges or cease to exist upon the death or retirement of the primary founder. However, this scenario can be transformed if parents proactively utilize mentoring and coaching to engage their business-minded children. Merely bringing them along to the business premises is insufficient; it is crucial to go beyond that and establish a structured transfer of knowledge, skills, and networks.
• It is important to seek out experienced mentors and coaches who can provide guidance and support throughout the succession planning process. These individuals can help you to identify your goals, develop a plan to achieve them, and provide feedback and support along the way. They can also help you to navigate the challenges of succession planning, such as dealing with difficult conversations and managing expectations.
• A structured and objective approach to succession planning can help navigate the unique challenges associated with family dynamics and cultural norms. This approach should include the following steps:

1. Identify the key stakeholders in the succession planning process. This includes family members, employees, and other key decision-makers.
2. Assess the current state of the business. This includes identifying the strengths and weaknesses of the business, as well as the opportunities and threats facing the business.
3. Develop a succession plan. This plan should identify the desired outcomes of the succession process, as well as the steps that need to be taken to achieve those outcomes.
4. Implement the succession plan. This includes communicating the plan to the stakeholders, as well as taking the necessary steps to implement the plan.
5. Evaluate the effectiveness of the succession plan. This includes assessing whether the plan is achieving its desired outcomes, and making necessary adjustments to the plan as needed.

By following these steps, businesses can develop a succession plan that is tailored to their specific needs and challenges. This can help to ensure a smooth and successful transition of leadership, and can protect the long-term success of the business.

In addition to the above, it is important to be aware of the following challenges when developing a succession plan for a family business:

• Family dynamics can be complex and can make it difficult to make objective decisions.
• Cultural norms can also influence the succession planning process. For example, in some cultures, it is expected that the eldest son will inherit the family business.
• It is important to be sensitive to these challenges and to develop a succession plan that takes them into account.
• Start succession planning early to ensure a smooth transition and allow potential successors time to develop the necessary skills and knowledge.
• Communicate openly and transparently with potential successors to ensure they understand their future role in the business and are prepared for the transition.
• Consider involving outside experts such as lawyers and accountants to provide additional support and guidance throughout the succession planning process.

Conclusion:

Small business owners in Cameroon should prioritize mentoring and coaching as part of their succession planning efforts to ensure the long-term sustainability of their business. By doing so, they can help potential successors develop the skills and knowledge needed to successfully take over the business and help current owners prepare for the transition.

References

Kefela, G. T., Aloysius, J. A., & Fomum, J. L. (2018). The role of family support and succession planning on the performance of small and medium enterprises in Cameroon. African Journal of Economic and Management Studies, 9(4), 538–549.

Enow, E. A., & Nkongho, J. N. (2016). Succession planning and organizational performance in small and medium-sized enterprises in Cameroon. International Journal of Business and Social Science, 7(2), 38–46.

Nwoba, M. O., & Aweh, U. A. (2020). Succession planning and sustainable development in small and medium-sized enterprises in Cameroon. Journal of Entrepreneurship Education, 23(3), 1–9.

Sende, L. B., & Djomo, A. (2021). Succession planning and firm performance: Evidence from small and medium-sized enterprises in Cameroon. Journal of Innovation and Entrepreneurship, 10(1), 1–19.