Looking to exit from your business in the next two to five years?
We can help you achieve the best outcome.

Looking to exit from your business in the next two to five years?
We can help you achieve the best outcome.

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Coaching your management team

The importance of developing your successors 

In almost all exit scenarios the capability of your management team will play a part in how well you achieve your objectives. Apart from a situation where you are forced, or decide, to close the business, an ownership transfer, in whole or part, will be influenced by the team you have built. 

 

A high performing team opens up wider exit options, potentially higher value and a less complicated process. Even if a sale isn’t on your agenda a strong team allows you to delegate and step back – so making your business less dependent on you. Equally, the opposite is also the case – a weak management team limits your options. 

 

The importance of developing your management team cannot and should not be underestimated. You may already be training them to be more productive and knowledgeable in their current roles. But what about developing them for future leadership positions within your company, or even future business ownership?  

 

This doesn’t necessarily mean funding MBAs for everyone, although in some cases that will be appropriate. It does mean helping to realise the full potential of the people that work for you and with you. Particularly when prospective buyers are looking not only to acquire your business but to retain your people as well. 

 

One-to-one leadership and team coaching play an essential part in any succession planning or senior manager development. One-to-one coaching helps develop high-calibre leaders ready and primed to step up when you’re looking to step down or aside. Team coaching helps to develop ever more agile and resilient teams. Together they provide both the business continuity and resilience every business owner needs – and additionally shape an innovative and forward-thinking team, capable of driving your business to meet and exceed ever evolving market dynamics. 

 

You can do yourself a big favour by investing in your team to build a better business and give yourself a better exit plan. To find out how Individual and team coaching provide tangible business benefits; contact us now. 

 

(Photo from Canva) 

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Testimonials

Ian’s ongoing input has made sure that plans have not only been laid, but implemented, completed and analysed. Ian is an invaluable asset to our business.

Alistair Henderson
Managing Director, Tuplin

Downloads

We’ve written a number of guides on selected business subjects that will set you and your business in good stead for whatever future you may choose.

These are free for you to download and to make use of in your business, so please help yourself.