Des Moines Succession Planning

As Seen in Automotive Buy Sell Report – Moving beyond “Good Enough” business performance

2020-02-05T14:11:19-06:00By |Categories: Succession Blog|Tags: , , |

If you want to boost your business performance, separate yourself from the competition, and enrich your life in just about every way, how do you do it? Here are some steps that others have found useful in moving away from “good enough” to “exceptional experience.” Give people specific goals. Make your beliefs and values [...]

Defining Succession

2019-11-15T12:29:01-06:00By |Categories: Succession Blog|Tags: , , , , , , , , , , , , , , , , , , , |

Please forgive us for being academic, but in order to fully understand business succession, we are going to define a few terms. First, an often confused first cousin, business continuity or exit planning: As the term describes, business continuity is the continued existence of a business, as in the business continues.  An exit planning [...]

5 Succession Misconceptions & How They Impact Business Value – #5 A Succession Plan Isn’t Needed if I plan to Sell

2019-11-15T12:25:46-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception #5 - A Succession Plan Isn't Needed If I Plan to Sell A common misconception is the thought that plans to sell your business negate the need for succession planning. Unfortunately, this thought process couldn't be more wrong, and has a direct impact on the amount of cash you’ll have in your pocket [...]

5 Succession Misconceptions & How They Impact Business Value – #4 I’m Too Young to Think About Succession Planning

2019-11-15T12:23:39-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception #4 - I'm Too Young to Think About Succession Planning Translation: “I am bulletproof and have no intention of dying prematurely; I am not interested in enhancing business productivity, profitability and teamwork; the business is all about me; and I am not interested in protecting the value of my business and the welfare [...]

5 Succession Misconceptions & How They Impact Business Value – #3 Succession Planning and Business Growth Aren’t Related

2019-11-15T12:20:00-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception #3 - Succession Planning and Business Growth Aren't Related Succession planning is not about you leaving the business; it’s about building a foundation of success today that will set the course for future generations. Your organization may be in 'growth mode' so you’ve put succession planning on the back burner. But growth without [...]

5 Succession Misconceptions & How They Impact Business Value – #2 Succession Means Retirement Planning

2019-11-26T13:39:31-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception #2 – Succession Planning Means Retirement Planning Succession planning often fuels a myriad of emotions. “No one is gonna push me out!” “Succession, that’s all about retirement, and I’m not going anywhere anytime soon!” “I like control; I’m not giving it up!” While all of these are valid emotions [...]

5 Succession Misconceptions & How They Impact Business Value – #1 I’m All Taken Care Of

2019-11-26T13:38:36-06:00By |Categories: Succession Blog, Succession Misconceptions|Tags: , , , , , , , , , , , , , , , , , , , , , |

Misconception # 1- “I’m All Taken Care Of “I have it all done.” “My estate and exit strategy are in order.” “My attorney and CPA have me covered.” These are beliefs are commonly expressed by many business owners. While there may be confidence and truth behind these statements, what the [...]

Building a High Performance Company – How Long Does it Take?

2019-11-19T07:45:34-06:00By |Categories: Succession Blog|Tags: , , |

One of the most frequently asked questions I receive is “How long do you think it will take?” Usually, the question is in reference to implementing some recommendations we’ve made about how to positively impact performance. Unless the company is in a survival crisis, our experience indicates that building a high performance culture usually [...]

As Seen in Multi-Unit Franchisee Report – 4 Ways to Avoid Losing Key Talent

2019-12-23T12:05:39-06:00By |Categories: Succession Blog|Tags: , , , |

Turnover in an organization brings a high cost to the company, which unfortunately, much of that cost can be avoided. Findings from the Saratoga Institute, a group that regularly reviews and updates the financial and organizational costs of turnover, estimate the financial costs range between 12-40% of pre-tax income. This translates to anywhere from [...]

As Seen in Crain’s Detroit Business – Consultants can help family businesses with their policies

2018-03-28T16:00:53-05:00By |Categories: Succession Blog|Tags: , , , , , , |

When Les Stanford Chevrolet Cadillac Inc. executives met with their consulting group to help with succession planning, they were told their third-generation family company needed policies in place for the next generation of leaders "They've seen some family situations that may have torn families apart," said Gary Stanford, vice president. "With their experience and knowledge, [...]