Organizational Assessment:
We provide a process of orientation, individual interviews, issue identification, feedback, problem-solving recommendations, and action planning involving all those with a major role in organization.
Succession Planning:
We offer coordinated planning for transition to the next generation for both ownership and management in Montrose and across Colorado. This process includes both ownership succession and the steps required for transitioning into the future.
Advisory Board Support:
Boards of directors and advisory boards provide a platform for owner managed businesses to gain access to outside talent and expertise that give them a fresh look at the problems, needs, and challenges of their business. Tapping independent experts allows companies to gain access to financial and other experts that frequently are not a component of the management and ownership teams. I think that problem solving is enhanced and results in better decision making.
Organizational Design and Structure:
We work with family-owned businesses to evaluate and recommend changes in the organization structure and clarify roles and responsibilities.
Management Development:
Assist the organization in developing the management necessary for its future success. The process includes assessment of individual management strengths and weaknesses. We also provide coaching and counseling to improvement management skills. This also includes access to appropriate training and educational programs to assist in individual career development needs.
Financial Planning:
We smooth the progress of the retirement and estate planning process. Owners are provided with assistance in the following areas:
Management Planning:
Management planning is a critical component of the succession and transition plan. We provide the necessary coaching support to the succession and transition plan. It begins with questions like the following:
- Where do I personally want to be in 5 to 10 years.
- Can the business survive without me?
- What happens if I become disabled?
- What are the goals of the interested parties including my wife, children and non-family management team members?
- What are the strengths, weaknesses, problems, opportunities, and threats of the business?
Every Business Needs a Succession Plan: One of my associates had a very successful Colorado based family-owned business whose CEO was in her early forties. Upon returning from a trip, there was an auto accident resulting in the young CEO being thrown through the windshield and killed instantly. There was no succession plan in place and the family had to pick up the pieces of the business in addition to dealing with the tragedy. The business is continuing to clean up the transition which could have been prevented by having a succession plan in place.
Ninety-five percent of all U.S. Businesses are family-owned and operated. Amazingly, 70% of all family business fail to make the transition from the first to the second generation.
The common downfall in family-owned businesses is the lack of planning. We help to provide a well-designed and integrated planning process focusing on the family, management, organization and financial components of succession planning.
Our approach is designed to coordinate with CPAs, attorneys, and other specialists that will be in the planning process.