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succession planning Tagged Articles
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Why Dr Jekyll would not be a good business buyer
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| We're all familiar with the story about Dr. Jekyll and Mr. Hyde; the person with two completely different personalities. Just as there are different types of buyers with different motivations, there are also buyers with different types of personalities. If you're planning on buying a business or if you own a business that you want to sell, here are some Dr. Jekyll "traits" that would discourage a seller revealing too much information about their business. |
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Thinking of buying or selling your business in the New Year, then start with your life plan
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| This article is the second in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Financial Plan?
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| This article is the third in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Business Plan?
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| This article is the fourth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Sales and Marketing plan?
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| This article is the fifth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Communication Plan?
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| This article is the sixth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Management Plan?
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| This article is the seventh in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Productivity Plan?
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| This article is the eighth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Technology Plan?
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| This article is the ninth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Performance Plan?
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| This article is the tenth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Disaster Recovery Plan
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| This article is the eleventh in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Exit Plan?
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| This article is the twelfth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Transition Plan?
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| This article is the thirteenth and final article that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Key Team Roles - What Happens If,,,
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| Every business has its Key Roles. Each organization has pivotal positions that are critical to get right. Managers who understand that these roles and positions are often critical to success are usually the ones who are ahead of the game |
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Identifying Future Leaders: Creative Leadership Development Strategies in Tough Times
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| Despite the challenging economy, firms with a long-term view continue to invest in their leaders. Traditionally, when budgets are tight, leadership development and succession planning are cut. |
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What Puts Success in Succession?
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| Succession planning is vital to the long term survival of any organization. Unfortunately many companies do a poor job of succession at various levels. This paper outlines some of the key issues and gives several checklists that can help make these processes work better. |
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Planning Your Exit
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| This article emphasizes the importance of advanced exit planning for business owners and offers a practical guide to the steps for sound exit planning. |
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10 Key Points You Must Know About Business Succession Planning
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| Succession Planning isn't just about preparing for boardroom changes or grooming your son or daughter to take over when you want to retire. It's much more about how those who manage others create seamless changeovers, preparing who you have, for opportunities that might present themselves. |
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10 Key Points You Must Know About Succession Planning for Your Business
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| Succession Planning isn't just about preparing for boardroom changes. It's about how to create seamless changeovers for opportunities that might present themselves. Through empowering your people, you generate enthusiasm and engagement. |
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10 Simple People Skills To Successful Management
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| Getting the best from your people is vital if you are to make the best progress in your business or organisation. Much comes from the way you interact personally and there are just ten key actions to take to build great, fulfilling and productive relationships... |
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10 Steps When You Need Help in Your Business
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| You start off alone. Be it as a solo business owner or a manager looking after a part of a larger business. It gets busier, you get distracted from what you want to do, because there's only one of you and you've only got one pair of hands. |
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10 things to expect from your business intermediary
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| Buying or selling a business comes with personal emotional and financial risk as well as the complexities of finance, accounting, tax, negotiation and legal items. Having a professional agent or intermediary to help “quarterback” and manage the variables is good business. Here are some attributes to look in the intermediary that you choose. |
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11 reasons to reject the recession and grow your business
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| Watching CNN, CNBC, MSNBC and the other media you keep hearing about the “green shoots” in the economy. This can be seen with things like the Federal Stimulus program beginning to gain momentum, clear direction with the resolution to the bankruptcies of GM and Chrysler, the level of fear about the economy subsiding, housing sales starting to stabilize and unemployment stabilizing. So it’s time to put the recession behind us and get on with it. |
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5 guaranteed ways not to sell your business
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| Selling a business is rarely a simple and straight forward process. One of the biggest mistakes I’ve found is that the seller doesn’t put themselves in the shoes of the other parties be it the buyer, lender, landlord, employees, franchisor or whoever. This article outlines 5 ways a business will NOT sell their business no matter how hard they try. |
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5 more guaranteed ways NOT to sell your business
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| Selling a profitable and attractive business is always a complex process. If you own a business and wish to sell, make sure you understand that what you say and do will affect the outcome. This is the second of three articles. The first is called “5 guaranteed ways not to sell your business.” The third is called “5 things to avoid when trying to sell your business.” |
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5 things to consider if selling your business
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| Selling a business requires not only preparing the business for sale, but also what you do as the owner. The following are 8 tips for you to consider if you want to successfully sell your business. |
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5 tips to use when selling your business
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| Selling a business is rarely a simple and straight forward process. One of the biggest mistakes I’ve found is that the seller doesn’t put themselves in the shoes of the other parties be it the buyer, lender, landlord, employees, franchisor or whoever. This article outlines 5 suggestions for a seller to use when approaching the way to sell their business. |
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5 traits of a successful entrepreneur
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| Entrepreneurs come in all shapes and sizes including diverse social, economic and education backgrounds. There is no “guaranteed” path to being a successful entrepreneur but this article suggests there are five traits they generally have in common. |
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6 questions to answer bluntly to find out if your business is in a crisis
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| Is owning and operating your business in this current economic climate getting you down? Not sure what your next steps should be? Not sure if you have options? The first thing is to know where you and your business currently stand; which is the purpose of this article. Once you know that answer, dust off your business plan, refresh it and review your next steps from an informed position. |
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8 tips to consider when selling your business
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| If you are planning on selling your business and your motivation is high, the following tips may help you. Be careful that your desire to sell your business does not come at the expense of making a decision too quickly or indeed being pressured into something you may not normally consider. |
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Caveat Emptor – Let the “seller” beware
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| Selling any business is rarely an easy and straightforward process. There are many things to contend with such as employees, customers, landlords, lenders, suppliers and may be others such as a franchisor etc. However, there is also unknown an opportunist that may be interested in your business and it’s important you know about them. The Latin phrase, Caveat Emptor normally applies in the law that a buyer needs to be careful before they make a final purchase decision. The same applies in this case, Let the “Seller” beware before they accept an offer to sell their business. |
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Eight reasons a business does not sell
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| Selling a business contains many moving parts. It’s not just the buyer(s) but also the family and friends, employees, landlord, suppliers, lenders and many others that demand attention or require working with. |
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Is business ownership right for you?
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| Business ownership is an option many refugees from Corporate America are considering. Unemployment is high and growing so owning your own business to control your future is a great option. But where do you start? This article covers some suggestions to get you started. |
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Seven growth industries to consider if you are starting a business
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| If you are planning on starting or buying a business, it makes sense to consider a business in a growth industry. This article outlines seven industries that are doing well, despite the recession. |
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Starting a business...let's start with you
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| If you're buying a franchise, starting a new business or buying an existing business it's difficult to know where to start. This article suggests you start with yourself. Read on to find out more.
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Starting a business…Look before you leap...no really!
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| Are you a "forced entrepreneur?" Just in case you were wondering, a "forced entrepreneur" is someone that's been happily working in Corporate America until that pink slip arrived. So you're highly skilled, highly motivated and thought you would easily get a job somewhere else...but you're not sure that's what you want to do? Perhaps becoming an entrepreneur is where you would really like to go but are not sure where to start. This article helps address that dilemma for you. |
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Starting a business…what are my options?
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| This article discusses the options available to a new entrepreneur planning on entering business ownership. It explains a new entrepreneur has three options and how to consider which option is best for their situation. |
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Starting a business...what options are available?
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| Over the last 2 years, Corporate America has not been kind to it's employees. Perhaps that's the wrong way to look at it. Maybe a better approach is that we only let things happen to us if we don't take action. Perhaps moving into business ownership is an action you need to take but are not sure where to start? This article suggests some options. The rest is up to you. |
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Successfully sell your business...to the right buyer
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| If you plan on selling your business, it will help you to understand the different types of buyer. Each buyer who inquires will have their own unique reason to want to buy. Let’s find out what’s important to each type so you are better prepared. |
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The Power of Seller Finance to sell your business
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| Selling a business comes with many challenges. The number one reason most transactions don’t close after a buyer and seller have “negotiated” a deal is that the landlord cannot come to terms with the seller and/or buyer.
The number two reason is that finance is not available.
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Why entrepreneurs adjust their thinking when business failure is not an option
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| A true entrepreneur only sees opportunities and the chance to make a lot of money. In a down economy they see it as the time to build greater knowledge, strength and resources to be ready for the inevitable upturn in the economy. However, we if we are not wired like the true entrepreneur we need to remind ourselves of what it takes to keep going and get to the next level. |
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How to Create a Strong Leadership Succession Plan With Mentoring
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| Mentoring a succession planning allows companies to structure their business for success. Rather than looking into hiring staff at some point down the road to fill leadership positions, businesses with mentoring programs will know that they are able to promote from within which will ensure consistency of policies. |
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Succession Planning - Your Operational Necessity
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| Robin Throckmorton, MA, SPHR and Patti Dunham, MBA, MA, SPHR work together to share different perspectives on succession planning. Will their information help drive your organization to finally take succession planning serious?
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One Minute Quiz for Business Owner's Only
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| This One Minute Quiz for Business Owners Only will provide answers and insight into the most important question every business owner must answer in order to maximize and obtain the wealth locked in their business. |
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You Can’t Be Fired But Neither Can You Quit
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| Facing the issue of succession or the sale of one’s business is very much akin to addressing the need for life insurance. Neither subject is addressed with much enthusiasm by the average person. The prudent address the inevitable and prepare. Although only one eventuality exists for us as individuals, three exist for our business: Transfer to family, sell to outsider, or close down. This article is meant to shed light on the contrast betwenn business owner's expectations regarding the transfer of their business and the reality of what really happens. |
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4 personality traits to watch when selling your business
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| Just as there are different sellers with different motivations, there are also buyers with different types of needs and personalities. If you’re the seller of a business or looking to buy, understanding these different personality types may help you be more successful. |
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9 strategies to successfully sell your business
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| To successfully sell your business, there are 9 important areas to consider before selling. They range from creating a team to support and help, goals to achieve, tax responsibilities, income necessary, different legal matters to consider, etc. |
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5 tips to successfully sell your business
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| Here are 5 helpful tips to consider when you're thinking of selling your business. There are many factors involved and things to think about because they can easily go overlooked. These tips will help you get on your way to successfully selling your business. |
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Avoid these 5 mistakes when trying to sell your business
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| Often times little things can get in the way of selling your business- things we don't think about or have little time to think about. Avoiding these simple mistakes can help in the process of being successful when selling your business. |
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Coaching for an IT Business
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| Regardless of whether the business is in IT or other products and services, organizations recognize that they need help to strengthen them in these challenging times. This article explains what a business coach can do for the organization and/or individuals. |
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Develop Leaders with Succession Planning
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| Developing leaders is a top organizational development priority for every company. Effectively managing knowledge capital is especially important in highly competitive industries. Understanding and deploying a succession management strategy is an excellent way to manage your department, groom future leaders, and mitigate risk. Use Demand Metric’s downloadable Succession Management Matrix tool to identify and develop the future leaders of your organization. |
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Understand your tax position before selling your business
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| It is important to know and understand where you stand with your taxes- your tax position, especially when you're thinking of selling your business. These are a few steps to ensure you know your tax position and are able and ready to sell your business. |
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Succession Planning: How to Meet Future Talent Needs
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| Succession planning is a talent and organizational improvement initiative that enables your business or organization to grow and thrive now and in the future. Reasons Why You Need to Immediately Implement a Succession Planning Strategy...
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The Talent Pool Has No Deep End
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| Have you identified successors in the executive positions within your company?
Read some statistics and ideas on what to look for and access the talent pool within your company. |
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What are my options if I cannot sell my business?
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| If you experience difficulty selling your business, there are options available to you. It is important to take care of your lease if applicable, assess your assets and see what you can do to get the best price for your business and work on your inventory. This article goes over these steps and more to help you when you find you cannot sell your business. |
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What can I do if I cannot sell my business?
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| There are many things you can do if you cannot sell your business. This article outlines a few, like selling any excess items for cash on eBay or Craistlist, selling your business with assets in place or getting an equipment appraisal to value your assets. All of these and more are options if you find you cannot sell your business. |
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If I am thinking of selling my business, where do I start?
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| Knowing where to start when selling your business can be hard to figure out. When selling your business, it’s important to consider a few things first: what assets come with the business? What fixtures, furniture and equipment are included and how is the inventory? Asking yourself these questions and addressing them first can ensure success when selling your business. This article explains each of these in greater detail to help when figuring out where to start when selling your business. |
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Why an appraisal is critical to a seller when selling their business
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| When trying to sell your business, getting an appraisal is beneficial for a number of reasons. Understanding what assets are part of the sale, removing any personal items that aren’t for sale and deciding the worth of your business with a professional ensures success when trying to sell your business. This article outlines the benefits of an appraisal and why it is critical when selling your business. |
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Succession or Termination in the Family Business
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| Succession Planning is often like riding a Roller Coaster
Selecting one child over another to become President and run the business will likely be the most difficult decision you will ever have to make as the owner. There will be ups and downs in the process. However, before you come to the conclusion that you are actually going to hand Aunt Lilly or your son the Presidency, you must be sure that you have exhausted every possible option and scenario imaginable to ensure the future success of the business.
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Benefits of Seller Finance when selling your business
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| There are various reasons why it is important to consider seller finance when buying or selling your business. There are upsides and downsides to seller finance and both are worthwhile knowing. This article outlines both, and shows that seller finance can make a big difference in the end. |
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Keeping Your Key Employees Happy
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| A manager's role is to build successful teams that deliver the business. We aim to seek for higher and higher performances from those we encourage, cajole and develop.
How do we keep them all happy? |
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5 alternatives to Seller Finance when selling your business
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| There are many things for both the buyer and seller to consider when selling or buying a business. The five options in this article deal with seller finance and will help ensure success when dealing with your business. Some topics include: sellers credit, earnings, inventory and real estate. |
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Strategic Succession Management - Winning the War for Leadership Talent
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| The demand for leadership talent greatly exceeds supply. Few firms are prepared for what the McKinsey consulting firm has called the "war for talent."
If economic growth continues at a modest 2 percent for the next 15 years, there would be a need for one-third more senior leaders than there are today. The supply of 35- to 44-year-old managers-who have traditionally been channeled into the executive ranks-is declining in the United States and will have dropped by 15 percent between 2000 and 2015.
Baby boomers have already started to retire. Most large companies will have to scramble to meet gaps in senior leadership talent. Not only are the numbers in the talent pool shrinking, but the quality of talent required to meet tomorrow's leadership demands is changing. |
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5 more seller finance options to consider when selling your business
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| This article offers five more reasons to use seller finance when selling your business. These options are less known but as effective in ensuring success when making a business transaction. A few options include license agreements, consulting agreements and different kinds of insurance. |
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How a business transition plan enhances selling your business
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| One successful way a business owner can start to sell their business is to create and execute a transition plan. Such a plan defines the needs of the business owner and then helps them to move towards their individual outcome. Starting here ensures success when a business owner decides to sell their business. |
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6 questions to ask when selling or buying your business
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| When thinking of selling your business, there are two things a buyer is looking for to ensure success: cash flow and potential. Once these are taken care of, there are six questions to consider that will help the present business. Looking into these questions and understanding them will ensure success when buying and selling a business. |
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Values
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| Values and Lack of Accountability |
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Lexington
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| The Living Years |
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Succession Planning
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| Can organizations prepare for loss? You can never be fully prepared for a tragic loss, however a succession plan will go a long way in minimizing the effect of loss. The loss in this case was an untimely death, but many organizations today face the risk of losing a seasoned executive through age, retirement, and even hiring away by a competitor. It is therefore important to consider the issue of succession NOW rather than later. |
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Managing Unrealistic Employee Expectations for Rapid Promotion
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| Some employees are "home run hitters"—hell-bent on getting to the top as quickly as possible. They want to knock the ball out of the park even before they’ve mastered base hits. To preserve their commitment and motivation these employees need a clearly defined development plan! |
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Ten 2011 Workforce Predictions
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| We can all take a collective sigh of relief as 2010 comes to an end. We finally finish a difficult year and frankly a trying decade. As we enter the New Year, there is reason for optimism. The economy is rebounding and businesses and employees can expect good things to follow. My workforce predictions for 2011:
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Succession Planning - For the sake of change?
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| A business coaching perspective on succession planning. |
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5 tips when selling your business
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| A business for sale is similar to a house for sale in some respects but very different in others. Some helpful tips to consider when selling your business include: considering commercial real estate, how helpful a team of advisers could be in your journey to sell your business, what assets there are and that the value of all things included in the business are properly valued. |
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7 Ideas Owners Must Consider About Succession Planning
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| Statistics show that 70% of entrepreneur-owned businesses do not survive the founder. Did you work this hard, for this long, to see your life’s work implode? |
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Recession-Proof Lessons of Succession
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| This article is based on the author’s experience in partnering with a Level 5 CEO who was orchestrating his own succession. This leadership transition represented the first at this level since the 153-year-old company became an employee owned business in a buyout from the last family owner. The company became employee-owned after 140 years of family ownership, growing more than 10 times in 10 years following the transfer of ownership. They have sustained more than 10 years of consecutive profitability as a privately held organization. Today, they generate revenue of more than $1.5 billion with over 2,500 employees of whom more than 300 are stockholders. |
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Developing Talent on a Shoestring: Five Strategies to Cultivate Future Leaders In Tough Times
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| OnPoint’s 2011 Execution Gap Survey found that although succession management and leadership development programs are strongly correlated with key predictors of organizational success, many companies have pulled the plug on these mission critical activities. How do the best companies avoid this potentially fatal mistake? |
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Ethical Expectation You Should Expect From Your Business Broker
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| Some business brokers belong to certain associations that have a code of ethics for brokers to follow. These, along with their own code of ethics, help ensure business brokers are of value to a business seller and buyer. A code of ethics ensures that a business broker puts the needs of the client before their own when making a business transaction. |
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Winning the War for Leadership Talent
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| The demand for leadership talent greatly exceeds supply. If economic growth continues at a modest 2 percent for the next 15 years, there would be a need for one-third more senior leaders than there are today.
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Build Bench Strength through Personality Assessments
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| The value of any personality assessment comes in using the insights it provides along the entire continuum of a career. The test itself should decipher an employee's underlying needs with emphases on sales rep hiring, development, opportunities for growth, behavioral coaching, team building, conflict resolution, succession planning and diversity training. |
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7 Ideas Owners Must Consider When Succession Planning
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| Recently we’ve been reading reports and statistics on succession planning. Did you know that according to the Canadian Federation of Independent Businesses more than 40% of business owners plan to leave their businesses in the next 5 years. Are you one of them? Then read this article and start ensuring your success. |
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Managing Skills for Business Continuity
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| Managing the retention of skills with an organization is critical to the long term sustainability of an organization. We often miss a whole lot by managing and retaining jobs and positions, while retaining skills and knowledge may be more important. |
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The 7 Most Effective Ways to Recruit, Retain and Motivate Your Youngest Generation
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| How to make your organization more productive |
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Professional Services Win More Sales by Educating Instead of Telling
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| Are you a professional service provider such as a lawyer, realtor, insurance agent, financial advisor, business coach, sales coach or executive coach? Would you like to win more sales while decreasing your sales to lead or sales cycle time? Then why not use your sales skills educate your potential qualified customers (a.k.a. prospects) instead of the traditional sales based marketing approach of telling them? |
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Is the Human Resources function really just a necessary evil?
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| What is the single largest expense in most businesses? People; payroll costs represent anywhere between 60 to 85% of controllable expenses. |
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Training Employees in a Tight Economy
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| One reason you should be looking to increase your training dollars is that you want to retain your star employees and show them that the organization believes in them and is looking to develop their skills to be even more valuable to everyone.
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Succession Planning: Refilling the Pipeline
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| In the next 3 to 5 years, the first surge of Baby Boomers is expected to exit the workforce. The volume of turnover could be unprecedented and its impact on all organizations will be dramatic. Beyond the loss of people, there will be significant loss of experience, knowledge, perspective and wisdom. This prospect of losing so much talent and knowledge in a short period of time has forced even the most reluctant to take notice and begin focusing on succession planning. |
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Succession Planning – How to Plan for a Changing of the Guard
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| In business there has been a lot of talk recently about baby-boomers looking to retire and who should they hand over the reigns to. This succession planning debate is great – but it neglects the general successions that happen all the time in business. By this I mean the sort of succession that happens:
• When a manager goes on holiday and someone steps into their shoes to fill in while they are away
• When someone gets promoted or transferred to another role
• When someone resigns
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Exit Strategies
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| Planning on selling up soon? How many times have you heard business people say "my business is my pension"?
Unfortunately, too frequently, and unfortunately too many find that their pension isn't worth what they believe it to be. |
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Understanding Purchase Price Allocation when buying and selling a business
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| The need to understand what and how purchase price allocation works helps when buying or selling a business because it affects both the buyer and the seller. This article outlines purchase price allocation and in what ways in effects a buyer and seller of a business. |
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Every leadermanager™ is responsible for succession planning
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| Succession planning concerns every role. As I share with my audiences “succession planning is not just about executives, it is about every role in your organization.”
As a financial services branch manager in the 70’s two files in the bottom right hand side of my desk played a vital role in my success, one was my employee bank and the other contained the minutes of my weekly meetings with my staff.
Do you have an employee bank? Do you have weekly meetings with your staff? |
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Succession Planning Whats the Latest
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| Staying ahead of the curve is one way to help prevent problems, and will give you ample time to deal with problems should they arise. Be prepared for the foreshadowed leadership shortage coming up in the next few years. |
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Plan for Business Success - 6 Reasons to Succession Plan
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| There are many valuable reasons to plan for the future - not least because it reduces the inexperience when people leave the business or organisation - yet there are other reasons too.. |
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Succession Planning for Your Business - 7 Key Benefits
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| As the manager; leader; ‘boss’; supervisor; CEO; HR Director; you are where the pressure is and you need all the help you can get, with pressures often coming at you from above and below. Succession Planning is here to help you... |
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Succession Planning Tricks in Your Business and Organization
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| Succession planning, in any business, is vital to avoid major challenges when a key person leaves their key position. Taking the time to build a succession planning strategy doesn't take that long, so here are a few ideas that will get you started. |
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Succession Planning - Vital For Your Business At All Levels
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| There are so many issues in management today and one that so often gets missed is planning for every eventuality. If you have no idea what succession planning is then this article is worth a read - it could make all the difference... |
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Succession Planning - A Bigger Solution Than You Might Think
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| Succession planning is the process by which a company, in effect "hires from within." It refers to the way a company identifies employees and prepares them for moving up within the company confines. Here's more about the benefits of Succession Planning. |
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Successful Succession Planning - Driven By Managing Performance
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| There are a number of areas to keep your eye on as part of your succession planning activities. Top of the list has to be that as you formulate your ideas to get those people organized to be top class performers, you need to know how they are doing, right now. Here are some ideas... |
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The Importance of Succession Planning
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| The resignation of Steve Jobs as the CEO of Apple has brought the subject of Succession Planning to the forefront of conversation.
This article explores the importance of succession planning to organisations |
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New Training Trends to beat Terrorism
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| In the weeks following the September 11 terrorist attacks, Nicholas Santangelo of the Fire Department of New York spent days and nights searching for bodies at the site of the collapsed World Trade Center. Sleep was an afterthought for Santangelo and his fellow New York City firefighters as they tirelessly combed through the rubble of the Twin Towers 24 hours a day. |
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An exit strategy? I just got started!
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| One thing business owners rarely talk about is succession.
We are so busy building our businesses that we fail to think about how we will move on to our next project, will our businesses to our children or sell the business to retire.
In truth we never start with the end in mind. And if we do we consider the destination to be a profitable and successful business. Unfortunately profitable can mean just one cent more than we spend and the definition of success is relative!
Push Back |
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Ten Deadly Succession Planning Mistakes To Avoid, According To Your Strategic Thinking Business Coach
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| Your Strategic Thinking Business Coach strongly recommends that all business owners (especially small business owners) develop succession plans. And to develop them now, rather than later. Succession planning is very important to the long-term success of any business. Leadership transitions in business affect the entire organization’s continuity, employee retention, client retention and returns on investment. It is essential to create and implement a process that creates visibility, accountability and greater integration of all facets of the business. Too often, mistakes are made in succession planning efforts. Your Strategic Thinking Business Coach offers the following list of ten (10) deadly succession planning mistakes that small businesses make and that you should avoid. The ten (10) deadly mistakes are: |
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Ten Deadly Succession Planning Mistakes To Avoid, According To Your Strategic Thinking Business Coach
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| Your Strategic Thinking Business Coach strongly recommends that all business owners (especially small business owners) develop succession plans. And to develop them now, rather than later. Succession planning is very important to the long-term success of any business. Leadership transitions in business affect the entire organization’s continuity, employee retention, client retention and returns on investment. It is essential to create and implement a process that creates visibility, accountability and greater integration of all facets of the business. Too often, mistakes are made in succession planning efforts. Your Strategic Thinking Business Coach offers the following list of ten (10) deadly succession planning mistakes that small businesses make and that you should avoid. The ten (10) deadly mistakes are: |
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Great Companies Define A Path To Succeed!
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| Career Pathing |
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