Step 1: Develop a deep business assessment
- “Scrubdown”—an objective, in-depth assessment of where you are, the real issues and opportunities facing the business
Step 2: Crystalize your objectives
- Understand and clarify your own objectives, incorporating the understanding developed during the scrubdown
Step 3: Optimize results and enhance value
- Action plans to improve performance based on the scrubdown
- Measurement tools and processes to ensure focus and accountability
- Strengthened planning and forecasting processes to build credibility
Step 4: Build credible, accountable business planning
- Implementation plan with clearly identified actions, investments, expected results, timing and milestones
Step 5: Align the team and investors
- Management assessment and organizational adjustment
- Management compensation and incentive alignment
- Current investor/lender assessment and negotiation strategy
- Financial restructuring or interim financing (if required)
- Family integration/alignment
- We can step in to augment management resources as need on a temporary basis
Step 6: Build the internal and external story
- Gather the information needed
- Develop the business valuation story (financials, strategy, value, proposition)
- Create the “book”
- Develop presentation materials
- Secure an outside audit or “review” of financials as needed
- Coach management how to tell the story
Step 7: Coordinate the resource team
- Identify and secure additional advisor services as required
- Coordinate with advisors (legal, accounting, tax, real estate, other)
- Assist in strategy and negotiations with investment bankers, brokers and buyers
- Support your transactional advisors to improve their effectiveness
Step 8: Execute the plan
- Build a plan for the transition process (responsibilities, timeline, milestones)
- Execute
Step 9: Monitor, evaluate and adjust
- Ongoing monthly review process
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