Proactive Succession Planning
If you are not planning, you are planning to fail.
Attention Family Business Owners and CEOs (Chief Emotional Officers):
I don't want to scare you - I want to terrify you. The realtity is, if you're not planning your succession strategy, you are risking the demise of everything you and your family have spent a lifetime building.
That's the bad news.
The good news is, there's still time... and executive coaching is your catalyst.
In all fairness, not planning for the succession of your business isn't entirely your fault. In fact, succession has become a buzz word that everybody talks about, but few actually know what it means or how to do it - let alone where to start. It can be (and usually is) such a big hairy audacious undertaking that it's no wonder so many business owners don't do it. In reality, succession is a process (a rather lenghty one), which requires several conversations and coordination between a variety of advisors, supports, and stakeholders:
I don't know about you, but I get dizzy just looking at this.
It's safe to say that the lack of attention to succession planning is not so much about ignorance as it is about overwhelm. Time, resources, answers that breed more questions, money money money, time time time, confusion annoyance frustration.
After all, who do you turn to when everyone turns to you?
As your coach, I can make your life easier when it comes to getting started with succession planning. There is no doubt that successful succession depends on the help of a multi-disciplinary team - Coaching helps you be proactive instead of reactive when it comes to the future of your family business.
As an objective and neutral sounding board, working together you can:
- Gain clarity about your ideal future (for you, your family and your business)
- Align your values and goals with that of your family and business
- Identify where you need to start and who can help
- Develop a meaningful and achievable plan with specific next steps (big or small)
"The final test of greatness in a CEO is how well he chooses a successor and whether he can step aside and let his successor run the company."
~ Peter Drucker
So what are you waiting for?
Packages & Programs
Depending on where you are in your succession planning, a few different coaching options are available:
Not sure which option is best? Call me at 250.891.4330 and we'll see what makes the most sense for you.
1. Just-in-Time Coaching
Makes sense if: You are curious about coaching and have short-term goals where a little nudging does the trick. Just-in-time coaching is great if you want to be very pro-active with your planning (if you plan to transition out in the next 5-10 years) and want to solidify your thoughts by taking small but important steps.
Commitment: 30-, 60- or 90-minute coaching sessions on an as-needed basis, about once every 3 to 6 weeks.
2. The Sleepwalker Package
Makes sense if: You really need to get going on succession. Enough thinking, it's about doing. This package is a must if:
- You plan on leaving your business in the next few years and haven't started talking or planning seriously yet
- You foresee conflict when you think about your family and business future
- You are losing sleep and "putting out fires" in your dreams (or in reality for that matter)
- You don't see a way out for yourself because you are the only one who can run the business in your sleep!
- You are sensing pressure from your management team or family to do something... anything!
- You have started transitioning out and it is far more challenging than you thought
Commitment: 60-minute coaching sessions 2 x month for a minimum of 3 months, ideally for 6-12 months during a transition.
3. Succession Planning for Family Businesses Program
Makes sense if: You are serious about succession planning and are ready to go for the full-meal-deal. This 3-part program includes:
- A needs assessment considering the needs, goals and objectives of each family member as well as a full business analysis of the business
- A 1-week retreat including a customized curriculum to make educated decisions about the best exit plan for you and your business, as well as understanding the results from the business analysis (the retreat could be in Scotland - see flyer below!)
- One-on-one coaching for all key stakeholders to help implement your plan, monitor progress, and provide feedback for a smooth transition.
Commitment: A full 3-part succession planning course over 12-months to develop a customized and comprehensive transition plan for your family business.
Take a look at the Succession Planning for Family Businesses flyer.
"Niki is dynamo. She is passionate about everything she does and it shows. She is a great communicator and
isn't afraid to tackle the issues head on. Time spent with Niki is well invested."
- Mike Black, President, Capital Iron