For most business owners, it’s far more exciting to dream about “the next big idea” than to tackle their current challenges. This mindset often extends to planning for a transition, whether it’s succession or the sale of the company. We all want to jump to that “next step” once we can envision it. However, the most successful growth or transition plans start with a clear understanding of the current state, including improvement opportunities and blind spots.
Gaps and opportunities can exist in multiple areas: leadership and organization, operations, commercial and development processes, and financial information management. At DWH, we employ a proven Assessment protocol customized to each client’s situation. Think of it as a multi-point inspection followed by in-depth discussions about observed challenges, risks, and opportunities compared to best practices.
Taking Inventory for Future Success
By aligning on ‘what we have’, business owners and leaders can better set realistic expectations for their company’s future. This future could involve growing the business, entering new markets, pursuing new ventures, transforming the business for the next generation, or developing individual team members.
A well-facilitated development process integrates planning around the ‘why’, the ‘how’, and the ‘what’. This includes an action plan to address immediate gaps and achieve mid-to-long-term objectives, supported by the necessary resources and expertise to guide process improvements, capability development, and implementation.
Ways to Reduce Risks
To minimize risks associated with growth or transition, we at DWH often assist clients in several key areas:
- Identifying Gaps and Blind Spots: We help uncover areas needing improvement and potential challenges.
- Setting Goals and Objectives: We assist in strategic planning to set clear, achievable targets.
- Creating Stakeholder Alignment: We work to ensure all key stakeholders are on the same page.
- Planning for Leadership Transitions: We help manage transitions of leadership, relationships, roles, and knowledge.
- Establishing Controls and Governance: We implement meaningful controls and governance structures.
- Strengthening the Business: We enhance overall business strength, including people, processes, and property.
Understanding what you have before moving to what you want is crucial for a successful business journey. Let DWH guide you through this process to ensure a solid foundation for your future growth and transition plans.
If you want to learn more about our strategic approach to growth and transitions, click here.
This post is from the DWH archives
Content written by Marcel van der Elst
Edited by Jordan Gunn
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