Decide which exit strategy is best for your business…
A successful exit strategy is dependent on numerous elements, from what industry you work in to the nature of your business and of course, the scale. The way you choose to exit your business is a very important and personal decision and one that shouldn’t be taken lightly. The type of exit will depend on […]
Beginning at the end…9 step process for achieving your exit plan
In business management guru, Stephen Covey’s, best-selling book, The Seven Habits of Highly Effective People, beginning with the end in mind was a top habit of his. This got me thinking. Why is it that so many business owners don’t have a clear picture of what they want their business to look like when it’s […]
Top five tips and traps for developing an effective succession plan
I’ve often been asked by clients to assist in a trade sale of their business or a sale or hand over to the next generation. These all take different forms depending on the motivation of the parties concerned. While there seems to be an increasing awareness of the need to prepare for transitioning the business, […]
Family business succession strategy – communication is the key
In over thirty years advising family businesses, the most successful succession plans I’ve seen have been the ones where there was solid stakeholder engagement – in other words – good communication within the family. Even if you think everyone is aware of what is going on and generally on the same page, don’t leave things […]
What are the main barriers to effective succession?
Barriers to succession I’m often intrigued when I read in the press about rather large family-owned businesses which are impacted by family and succession issues. Someone commented to me recently about the issues surrounding Bob Jane’s family and his business and how these have been in the media in recent years. I was asked: “Why […]
