For most business owners, it is more exciting to think about “the next big idea” than to toil through fixing the current state of the business. The same applies to planning for a transition, whether a succession event or a sale of the business. We prefer to get to that “next step” once we can envision it. Yet most successful growth or transition plans are built upon first understanding improvement opportunities and blind spots.
Gaps and opportunities may exist in several areas: leadership & organization, operations, commercial and development processes, and financial information management. At DWH, we use a tried and tested Assessment protocol that is customized to client situations. Think of this as a multi-point inspection followed by iterative discussions on observed challenges, risks, and opportunities, which we contrast with best practices.
Remember to take inventory
With alignment on ‘what we have’, owners and leadership can better set expectations for their company’s future. That future could be growing the business, venturing into new markets, pursuing new business, transforming the business for the next generation, or developing individual team members.
A well-facilitated development process integrates planning between the ‘why’, the ‘how’, and the ‘what’. This should include an action plan both to address near-term gaps and to achieve mid-to-long-term objectives, as well as the resource support and experience to guide process improvements, capability development, and implementation of the plan.
To reduce risks associated with growth or transition, DWH helps clients with:
- Understanding gaps and blind spots
- Setting goals and objectives, including strategic planning
- Creating alignment with key stakeholders
- Planning for transitions of leadership, relationships, roles, and knowledge
- Establishing meaningful controls and governance
- Strengthening the overall business, including people, processes, and property.
If you would like to learn more about our strategic approach to growth and transitions, click here.
This post was written by:
Marcel van der Elst, DWH Senior Director
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