LEHIGH VALLEY, Pa., August 13, 2019 /PRNewswire-PRWeb/ -- Compass Point Consulting LLC (Compass Point), a leading business management consulting firm specializing in family-owned companies, announced recently that Cheryl Doll, Ed.D. has joined the firm as a Senior Business Advisor to meet the growing needs of regional businesses.
Cheryl Doll, Ed.D, Senior Business Advisor at Compass Point, will advise Compass Point's clientele as they navigate the unique challenges family-owned companies face as they attain the next level of growth. Doll will transition her extensive experience in Organizational Development, Leadership Training and Strategic Planning, acquired during her 20 years in the academic space, to her new role.
"Some estimates suggest trillions of dollars in business assets will be transitioned over the next 15 years as baby-boomer owners move on to their next chapter," said Doll. "I'm excited by the opportunity to help families understand, and then navigate, the very specific hurdles their organizations face when building value in the company and planning for succession. We help companies create a rhythm in achieving not only their annual goals, but also hold them accountable on a monthly and quarterly basis as well."
Compass Point specializes in growth and transition strategies for family businesses and works with business owners and executive leadership to develop the people and plans necessary to secure an enduring legacy. According to Tom Garrity, Managing Partner of Compass Point, family-owned companies, both large and small, face a long and often arduous set of obstacles as they prepare to transition ownership. "Building a business that can run without the owner is the goal. This is a critical revelation for most owners. They must learn to trust their team or they will never be able to grow and ultimately step away."
Garrity points out that current statistics show that the survival rate for businesses drops precipitously with each successive generation. Less than 33% of family businesses survive transition from the first to second generation and less than 10% survive from the second to the third. He suggests this may be due, in part, to the unique interpersonal challenges that combining family and business can create.
"Business owners and their families have a life outside of their business, in addition to the life inside their business," said Garrity, "... and we approach our clients' needs from that perspective. We help them understand that they have to use a whole life viewpoint. We are extremely grateful to have Cheryl join our team and know that she will play a vital role in helping our clients succeed."
To learn more about Compass Point Consulting LLC, visit http://www.compasspt.com.
About Compass Point Consulting LLC
Compass Point is a boutique family business advisory firm that specializes in growth and transition strategies for family businesses. We provide a process, tools, and accountability to build business value, unlock wealth for the owner, and help the owner design their next chapter – from success to significance. We help owners uncover solutions to complex and emotionally charged challenges in their business and personal life. Outcomes include aligned employees, better business results, more freedom for the owner, and family harmony. We work primarily with companies in the following industries: manufacturing, food processing, construction, contracting, logistics, healthcare, service providers, and professional services. Our ideal client has revenues between $5M and $100M, want to grow, care about the legacy of the business, and want to protect their financial future.
SOURCE Compass Point Consulting LLC
Share this article