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Refining processes and developing the next generation of leaders are fundamental to succession planning. I’ve worked with my clients on these key succession planning and talent development steps for years. However, during a coaching call with an executive this past week, I learned a valuable insight into HOW I need to guide my succession planning clients going forward. The leaders need to plan for succession as if THEY were going to return to the company. (more…)
Because of the ‘shake-out’ that’s occurred with our economy over the past year, there are more companies than ever looking to sell, and therefore, more opportunities to buy. If you’re like a few of my clients, smart acquisitions are part of your strategic plan. However, as you identify criteria your ideal targeted acquisition candidates need to have (i.e., revenues, margins, location, equipment, staff, etc.), consider two ‘soft-skills’ items that can make or break a successful post-acquisition integration: culture fit and business infrastructure fit. (more…)
I had the opportunity to watch a leader ‘lead up’ last week. A new client had asked me to attend their board meeting so I could gain a better understanding of their organization, history, culture, and their future. It was an incredibly informative experience. However, it was informative in a way I don’t believe they anticipated. (more…)
I just completed helping one of my small business clients (let’s call him Ted) with his sales and marketing quandary. He really doesn’t like making phone calls or talking with clients to identify additional ways he can help them; it’s just not something he’s ever been comfortable doing. He has said to me, “I can sell for someone else, just not myself.” Obviously, that mindset is not a good one to have when you own your own business, but how can you work around it if you don’t have a sales team and you want to keep your business alive? Market someone else’s. (more…)
