Manufacturing Succession Planning
As manufacturing succession planning experts, we can relate to the process of building a product from start to finish and getting it out the door while ensuring quality, consistency, and efficiency. It involves a variety of nuances highly interdependent of each other. Managing supply chain, technology/machinery, process, and cultivating a high performing culture are just a few of the many influences impacting success.
From our experience in the manufacturing industry, we are experts in streamlining complex moving parts towards one focus, the legacy and lifestyle you have committed your life’s work to provide. Similar to the development of your product, through considering 10 interdependent areas of your business, we construct and implement succession strategies to achieve your long-term vision.
The number one thing business owners notice when they engage our services is a clear path forward.
What happens when you decide to takes the next step towards the future you imagine…now? Business ownership by nature is risky; succession planning however creates strategies and structure to put you in control of your manufacturing succession planning.
Resources
How Do I Motivate My Children, Nephews, In-laws, etc. to Come Into My Business?
Your behavior and attitude towards the business act as role model behavior for your family. Therefore, speaking and showing positive feelings regarding the business is the best way to motivate the family to join. Express how much you enjoy it, the exciting and wonderful career opportunities and prospects for growth. [...]
What if Family Doesn’t Want, or Have the Ability to Fill Your Shoes as Leader?
Some sort of transition strategy, or a succession plan, is critical for every family business. What will the future look like, will it stay in the family, do we want to sell are 3 critical questions to consider. Listen in and learn from Jean Venant, a succession planner with The [...]
Creating Leadership Bench Strength for Succession Planning
Listen in to Jéan's insight into how to create organizational bench strength to power your business through transition. The term bench strength may appear indirectly placed in your business as the term generally relates to a weight lifting exercise. However, just as an individual leverages a bench press to create [...]
Family Business: Harboring Gratitude versus Resentment
Listen in to Hugh’s insight into how to create meaningful strategies to ensure you are harboring gratefulness versus unintended resentment amongst family. A grateful heart is significant when we feel we’ve gone above and beyond to provide something for our children/grandchildren. Knowing our children are thankful usually inspires us to [...]
How Do I Deal With the Petty Crap I Endure as a Leader of My Family’s Business?
When family members join the business, the emotional landscape changes. Any imperfections in intra-family communication, respect, and/or patience are exasperated by business expectations, nuances, and pressures. Even the closest and most balanced families find themselves struggling with crap from what appears to be never-ending sources. If it’s not concern over [...]
Succession Planning Learnings from the Suez Canal Boat Debacle
One small misstep that was unforeseen, unexpected, and totally not at all planned for has had impacts on the global economy at large. Similarly, succession planning, if not engaged in, can do the same thing to the personal financial future of a business owner AND the sustainability of the business. [...]
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The Succession Planning Matrix
The Succession Planning Matrix
Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession Matrix.
Click the following link for more drill-down resources on The Succession Matrix, or check out our Facebook post.
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We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.
