ONE OF THE MOST POTENTIALLY DIFFICULT DECISIONS THAT MOST LEADERS FACE IS, AS THE POPULAR SONG GOES, “KNOW[ING] WHEN TO HOLD ‘EM, KNOW[ING] WHEN TO FOLD ‘EM,” KNOWING WHEN TO STEP ASIDE, LET GO, AND ALLOW THE BUSINESS TO MOVE FORWARD TO THE NEXT LEVEL WITH NEW LEADERSHIP.  IT’S EASY TO SAY BUT TOUGH TO DO FOR MOST OF US, AND MANY TIMES WE STAY TOO LONG. WE EXIT ON THE DOWN SIDE OF OUR EFFECTIVENESS.

AS A BYSTANDER, I’VE WITNESSED EXAMPLES OF THIS IN ALL WALKS OF LIFE.

AS A SPORTS FAN, SEEING WILLIE MAYS IN A NEW YORK METS UNIFORM WAS PAINFUL FOR ME.  SURE, THEY WERE WILLING TO PAY HIM, AND HE STILL ENJOYED PLAYING BASEBALL!  BUT, FROM MY SEAT, HE WAS A SHELL OF HIMSELF AS AN ATHLETE, AND HIS RESULTS AT THE END OF HIS CAREER PROVED IT.

ALL THE TIME, YOU SEE SOME ENTERTAINERS THAT CONTINUE TO PERFORM LONG AFTER THEIR SKILLS AND CAPABILITIES HAVE LEFT THE BUILDING.  WE GO TO THEIR SHOWS, WE LISTEN, WE APPLAUD,  AND, OFTENTIMES, WE’RE JUST LEFT REMEMBERING HOW GREAT OF A VOICE THEY ONCE HAD, OR HOW THEY ONCE GLIDED ACROSS THE FLOOR WITH SUCH EASE. BUT, FROM WHERE WE’RE NOW SITTING, WE REALIZE THAT WHAT WE ARE SEEING IS NOTHING LIKE THE MAGIC THEY CREATED ONCE UPON A TIME.

AND SO IT IS WITH LEADERSHIP, TOO. ONE OF THE MOST DIFFICULT CONVERSATIONS THAT I HAVE WITH PRESIDENTS OR LEADERS OF ORGANIZATIONS IS THAT, HEY, IT IS TIME TO FOLD. MANY OF THEM LOOK AT THE COMPANY AS THEIR CREATION OR THEIR BABY, AND IT HAS BECOME VIRTUALLY  IMPOSSIBLE FOR THEM TO SEE THEMSELVES ON THE OUTSIDE. AND YET, THE SKILLS THAT HAVE BROUGHT THE COMPANY TO THIS LEVEL WILL NOT BE ENOUGH TO TAKE IT TO THE NEXT LEVEL.  IF YOU BELIEVE THAT YOUR WORTH IS MANIFESTED IN THE COMPANY, YOU CANNOT SEE YOUR REAL WORTH WITHOUT IT.

ANDREW MASON RECENTLY SENT AN EMAIL TO HIS TEAM AT GROUPON:

After four and a half intense and wonderful years as CEO of Groupon, I've decided that I'd like to spend more time with my family. Just kidding — I was fired today. If you're wondering why ... you haven't been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that's hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.

IN ANOTHER SECTOR, POPE BENEDICT XVI RECENTLY RESIGNED.  POPE’S NEVER RETIRE.  IN FACT, NO POPE HAS RETIRED IN THE LAST 600 YEARS! THEY DIE IN OFFICE.  IN HIS LETTER TO THE CARDINALS HE WROTE:

…I don't feel I have the physical capability of carrying on this stewardship in the manner required for the Church and its Parishioners. I have watched as my predecessors declined, yet hold on until death, and I decided it was better for everyone that I allow someone else to continue…

SELFLESS LEADERSHIP!

NOW, REMEMBERING THAT I’M A SPORTS FAN, LET’S TALK ABOUT SANDY KOUFAX. DURING KOUFAX’S LAST YEAR WITH THE DODGERS, HE LEAD THE MAJORS WITH A 27-9 RECORD AND AN ERA OF 1.79.  HE WAS AT THE TOP OF HIS GAME! FOLLOWING AN ARM INJURY, HE COULD HAVE DECIDED TO STAY AROUND, RECOVER, AND KEEP ON PLAYING; HOWEVER, HE MADE THE DECISION TO LEAVE AT THE TOP OF HIS GAME AND BUILD A NEW LIFE FOR HIMSELF. IF ONLY MY MAN, WILLIE MAYS, HAD DONE THE SAME!

SO, AS LEADERS, IT’S ON US TO TRANSITION INTO “WHAT’S NEXT” WHEN WE REALIZE WE CAN NO LONGER LEAD WITH OUR PREVIOUS SET OF SKILL AND STANDARDS.  POWERFUL LEADERS ARE ABLE TO RESIST THE ALLURE OF HANGING ON TO THE SPOTLIGHT AND CELEBRITY OF A POSITION OR JOB WHEN THEY REALIZE THAT IT’S TIME TO GO. WEAKER LEADERS REFUSE TO SEE THAT IT IS TIME FOR NEW LEADERSHIP AND DIG IN THEIR TALONS.

AS OUR KIDS MOVE OUT AND OUR DOGS PASS AWAY, IT’S ON US TO SEEK THAT NEW FRONTIER, THAT NEW LIFE. THERE IS A NEW LIFE (A FULL LIFE!) WAITING FOR US, IF WE ALLOW OURSELVES TO MOVE ON.

IN HIS FAMOUS SONG “THE GAMBLER” KENNY ROGER’S SANG:

You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done.

WHEN IT’S OUR TIME, LET US PRAY THAT GOD WILL GIVE US THE GRACE, HUMILITY AND WISDOM TO KNOW WHEN TO FOLD ‘EM!  OUR NEXT PHASE OF LIFE IS WAITING FOR US WITH NEW CHALLENGES AND OPPORTUNITIES.  BUT WE CAN’T REACH OUT FOR IT UNLESS WE LET GO.