If you are the majority owner of a business and feel yourself shutting down when the subject of succession comes up, consider the following layers:
This sequence may seem obvious, but it is NOT what most people do.
Many business owners end up with a scramble of facts and emotions about themselves and other people. Loyalty. Fear of the future. Legacy. Entitlement. Guilt. Disappointment.
Especially during uncertain economies (NOW), many owners approach succession – related analysis from a pessimistic almost cynical viewpoint. I have seen owners work themselves up into horrible resentments based on arguments they have had with themselves in their own minds. Without assistance, they never reach question # 4…let alone question # 5.
The optimally sized business meets its obligations to the owners, its key stakeholders, and its future. When there are honest answers to questions 1-3 , the optimal size becomes self evident and can guide strategic decision making focused on the market place, product differentiation, productivity, etc. with far fewer negative assumptions, resentments, and fear.
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her current service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™. Ambler is wrapping up her 7th year hosting a weekly peer-to-peer-to-peer on line talk show at www.Business.VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
Known as The Growth Strategist®, Aldonna Ambler built and grew a suite of companies to help midsized B2B companies achieve accelerated growth with sustained profitability® A Certified Speaking Professional (CSP), Ambler has addressed over 2000 audiences and hosted a syndicated online talk show about growth strategies for 9 years. As a growth financing intermediary, Ambler raised over $1 Bil dollars for midsized companies. The winner of over 2 dozen prestigious national and statewide "entrepreneur of the year" awards, Ambler is available to speak about “profitable growth during any economy” and/or serve on the board of a growth-oriented privately-held company.