After the closing date, a business transition is anything but complete. Particularly for new owners and next generation successors, the day after closing marks a new beginning, and the first actions taken in that time are critical to ensure a successful transition.
Our experienced team works with private companies before, during, and after an ownership transition to establish foundations of continuity, support, open communication, and re-energized corporate cultures.
Some of our success stories include:
- Assisting new management teams in mitigating risks around management training, establishing performance management techniques, reporting requirements, and communication lines
- Helping establish a strategic foundation for second generation owners, while creating new roles and responsibilities for the previous generation
- Identifying management successors (both internal and external to the company) and gradually delegating control and ownership to these new leaders
- Developing personal development tracks for successors to build entrepreneurial skills, confidence and leadership
- Navigating family business dynamics to establish a multigenerational succession plan
For experienced insight and advice on business transitions, contact us for a free initial consultation.