As businesses grow and develop over time, many owners are likely to reach a point when they need to prepare for a change of management or ownership. Whether you are a family business looking to hand over the reins to the next generation, or a business owner considering stepping back or exiting completely, ensuring you have the right people in place to ensure the company’s success in the future is vital.
BHP are experienced in working with business owners to futureproof the management and ongoing success of their business. We can help you balance future business requirements with individual concerns and provide key support during the transition. We have worked with many management teams to ensure the business leaders of the future are well prepared and have the necessary strategic and management skills and capability to deliver what is required for running the business. Plus, we can support business owners, used to being in the driving seat, to be able start the sometimes uncomfortable, but necessary, process of stepping back into a non-executive role or preparing to exit entirely, and creating the space necessary for a smooth handover.
As part of our succession planning support package we can offer:
- A succession planning options review
- Current management team appraisal and identification of any future skills / experience gaps created by the exit of the owner/s
- Assessment of future potential management team members, gap analysis and identification of the level of internal development required
- Provision of any requited management development and mentoring
- Mentoring for business owners who want to step back and to draw on experience about how to start and successfully deliver the succession transition