The main reason to have a vision and talent plan is to focus all of your decisions based on your three to four to five-year vision.
● It is estimated that 50% of all family business owners are expecting to retire, but less than half of those who plan on retiring in the next 5 years have chosen a successor
● Nearly 70% of family businesses hope to pass their business on to the next generation; only 30% will be successful with the transition
If you plan to pass your business to the next generation, actions are needed for you to join the successful 30%.
The 1st and 2nd generation leadership creates the content of the process through their answers to the questionnaire
The 2nd generation leadership creates a vision of where they want the company to be in 3 years
The 2nd generation leadership creates a 3 year talent plan to achieve the vision utilizing Behavioral Science
The 2nd generation presents the plan to the 1st generation leadership for agreement
Once there is agreement, the next step is to execute the plan and achieve your vision
1. Enhance the profitability of your business
– A profitable & healthy business provides resources to resolve issues
2. Maintain & strengthen relationships in & around the family
– You will develop a family strategy through our process that creates harmony & improves relationships across the family and business
“STV Advisors, Inc. accurately identified the strategic challenges facing B & H Pattern and then recommended and led a collaborative process to resolve those challenges. The proof is in the results both financially and culturally. Our new leadership team has been identified and is currently going through STV Advisors’ Leadership Development process. We are in transition and are looking positively toward continued improvement in financial performance and customer satisfaction.”
“Our future is bright” … Paul Bloch, General Manager
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