Creating an Exit Strategy that works for Family Owned Businesses
Denver, CO (PRWEB) August 7, 2009
Strategic Designs for Learning (SDL) has developed a Podcast series on Management and Leadership in Family Owned Businesses. The second podcast in their new series is entitled “Creating an Exit Strategy that works for Family Owned Businesses” and is available for free downloading at iTunes and can be streamed from their website at: http://strategicdesigns.net/podcasts.html.
In our experience it is quite likely that a family owned business (FOB) does not have a well documented and thought out exit strategy, just as it may not have a well thought out succession strategy. The reasons for this are quite simple. FOBs are very good at the ‘content’ of what they do; they work hard at something they are very good at doing. In fact they work so hard that it is not uncommon for them to be astonished that they are 50 something and very successful but also beginning to think of retiring or exiting the business.
We believe that the exiting process and the succession planning process should go hand in hand with one another. Succession planning is the process by which a logical successor for the business is identified, assessed and coached to be ready to assume the responsibilities of the existing business head; exit strategy is the business equivalent of that process in that it should be started early and allows the business owner to identify the steps towards obtaining the optimal value for the business at the time when he/she is ready to retire or exit. The ‘who will be taking over’ and the how and when need to be answered in the context of many different scenarios that an exit strategy process will yield.
In this latest podcast SDL’s unique approach is articulated. Our approach addresses Family Owned Business challenges, combining deep expertise in business growth and exit strategy with family owned business reconciliation, succession planning and leadership development and coaching.
Strategic Designs For Learning (SDL) assists organizations in assessing, aligning and developing talent. Our specific capabilities include leadership development, executive coaching, team development, and succession - with particular expertise in working with family-owned businesses. We provide a unique integration of leadership, organizational development, coaching expertise, and business knowledge to effectively bridge the gap between business strategy and organizational effectiveness. More information is available at http://www.strategicdesigns.net.
Strategic Designs for Learning
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