What the Coach Saw



Business Transition – The owner’s perspective

Business transition occurs when the business is sold, shut down, or when the day-to-day leadership shifts from the owner to a family member or capable employee. Regardless of the transition, considerable preparation is required. The act of transitioning a business is a two-sided coin. On one side is the process of preparing the business and the owner to let go; while on the other side of the coin is the process of preparing the buyer, family member, or capable employee to be skilled enough for the owner to actually let go with confidence.

This week’s peer advice

A board member with a professional practice was commenting on the challenges of getting staff to follow precise instructions on simple tasks such as answering the telephone. “I have given them a prepared script on what I want each person to say when they answer the telephone. I rehearse it with them and they commit to answering in the requested manner, but when I listen they have a different script. It drives me crazy! Why can’t they just do what I ask?”

Find out what the Board said.