As you think about your career and business, there are five basic mountains to climb. Each has its own challenges and rewards. Each has its own peaks and valleys during the climb. Each progressively adds more value to the next generation.
business management career successionDecentralization is the delegation of entrepreneurial levels of decision rights in an organization for leadership development, scalability, sustainability, and succession.
growth Organizational Development strategy successionSuccession goes far beyond ownership transitions every generation or two. Succession readiness at all levels is what allows contractors to grow profitably and safely. How would you evaluate succession readiness across your team?
Organizational Development succession Talent Value Stream (TVS)Just about everything in life and business have hierarchies including people, principles, policies, strategies, plans, processes, and projects. These must evolve with growth and changing conditions while avoiding stifling levels of controls and ego.
business management Organizational Development OrgDev successionTo better cope with some of the talent shortages that growing contractors are facing, it is important to look at talent through a similar lens as we would sales, putting them into a funnel and approximate timelines. We have to start with the big picture.
Organizational Development recruiting strategy succession talent developmentGovernance structures including the board of directors, policies, information flow, operating rhythm, and decision rights must continually evolve through each stage of growth and ownership transition. The first board is typically driven by a transition.
governance ownership transition successionThe Deal Structure including dollars, timing, terms, legal entities, taxes, and contractual documents is the most tangible part of the transaction. The Deal Structure WILL NOT do three very critical things - Cash, Capabilities, and Trust.
ownership transition successionAs contractors plan for ownership transitions, there are seven major stakeholder groups that will sometimes have competing wants and needs that must be identified and brought into alignment.
ownership transition successionOwnership succession for a construction business is complex. Sometimes it is best to back up and look at a really simple model to keep the three primary parties focused on what is truly important.
financial model ownership transition successionThis outcome-based scoreboard keeps everyone focused on what matters. Avoid metric overload and diffusion of resources. All other metrics throughout all levels of the organization fall into a hierarchy below these with priorities changing over time.
business management business planning cash flow metrics scoreboard succession