SUCCESSION IS A DIRTY WORD
Change in business is a PROCESS, not an EVENT.
It is difficult to think about and even harder to put into place, but it’s inevitable that your business will need to evolve. Whether you decide to scale up, sell up, retire, exit, pivot or hand over to a new generation, it’s important that you plan for that day.
STRATEGIC BUSINESS PLANNING
Forget succession – develop your business strategy, outline how your business will progress with family and/or partners and how to manage this financially.
A business strategy is a definition of the tactics and methods you will use to own and manage your business.
Strategy is the road map that guides the direction and decisions your organisation takes, and culture breathes life into the strategy. By planning early and periodically reviewing your strategy, you can maximise the value of your business and help it to provide for future generations as well as retirement relief.
The strategic journey in small and family business can be onerous. There are so many questions to be asked and even more answers to be found.
- Where do we start? What does a business strategic plan look like?
- How do we find a balance for everyone involved?
- Does everything need to be equal?
- How do we meet business and family needs?
- How do we communicate & incorporate our business strategy?
- How can we improve ourselves and our business as we progress?
- Is it time to scale/pivot/revitalise your business? Perhaps it is time to be proactive and look forward, incorporating new skills, new interests, new and emerging markets, new technology, new goals, new financial considerations, new stakeholders.
- Has it been too long working in the business and it’s now time to do some work on the business?
COMMUNICATION COACHING
Communication is a key part of all the elements in your business; management, culture, collaboration, governance, strategy and family. Effective and timely communication techniques will ensure your business can respond to these elements addressing such things as daily operations, goals, ethics, returns to stakeholders, employment and finances.
“Misinterpretation of the facts or misperception whilst communicating as a family or a team is often the sticking point in a business process. An outside influence who is able to be unemotional and assist the parties to professionally develop where their communication weaknesses exist is often all that is needed to ensure successful transitions and strategies can be implemented.”
iOnSUCCESS 