REAL ISSUES. REAL ANSWERS: Planning Your Company’s Future

“Too much regulation. Would probably be better to just be bought out by a company large enough to deal with all the government regulations.”

“ 1. Market growth potential 2. Gross margin concern 3. Banking relations and regulations affecting those relations 4. Finding and retaining good people 5. Washington, D.C. making stupid decisions 6. Health care expense”

“There are several challenges that our company faces going forward. We are a retail operation that does millwork manufacturing. We have a plant in one town and retail locations in two others. The primary challenge once the owner(s) retire is to determine the leadership structure. We have very strong people who can run the plant, and very strong people at the retail locations.”

- Sponsor -

“A clear line of authority and responsibility will be needed to ensure future growth of the business. In all likelihood, a combination sales manager/CFO will be needed to coordinate the various financial and sales needs of the company. Continuously improving communication and understanding the role that each department plays in the success of the company will be an ongoing process. Planning for growth, replacement of equipment, and physical plant maintenance will be key factors as well.”

“Finding a buyer who will work with our existing customer base (mixed homeowner and professional), as well as protecting existing employee status.”

“ 1. Generational differences and finding the best modifying methods (thinking out of the box) to accomplish leadership development and effective business management. 2. Staffing at entrance levels.”

“No family members to take over, so we have to structure the business sale and management to be attractive to potential buyers.”

“Clear direction on where our company needs to be a month, a year, five years from now. It seems we are not consistent across the board, and we are constantly getting mixed messages.”

“I would like to have our succession plan in place for the next generation. We have been working with a great group of people who work with family-owned and other businesses. We are not always going to be here, so we want to be prepared so that it all doesn’t go to the government.”

“The conversion of ownership to the kids. Growth of our business.”

“ 1. Directing growth. 2. Providing for families of internal/ external customers. 3. Recruiting/retaining like-minded talent. 4. Serving our community.”

“How do we cultivate the next generation of leadership when we are not good teachers? Will our company be led by family, or will outside leadership be brought in, with family serving as a board of directors?”

“Maximum return on our investment!”

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