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Strategic Planning - Mapping Your Route to Success

by Jack Veale

When planning a family trip by car, you select your destination and then map out a route. This same logic holds true in the case of managing your family business. The destination is the set of objectives you wish to obtain, and mapping out the route refers to the strategies you plan to reach those objectives. Strategic planning is the process by which you design a route to take your business to the next level of success.

Are You Ready To Hit the Road?

Case Study 14

The owners are children of the founder, and are taking over management since their father became severely disabled or passed away.  The Sisters, early in their careers, were not allowed or encouraged to work in the business by their father, and due to his problems, began trying to manage a business they have little knowledge of.  As Time went on, power plays between the sisters and their brother (who lived far away), resulted in loss of sales, employee theft & defection, and financial losses.  The new owners wanted to turn the business around with a management tea

Case Study 13

A Nationally Ranked company is struggling to grow sales and profitability.  Over the prior years, management has gone through several COO's as high growth affected leadership.  The CEO is looking for help in mentoring his new COO so that the company can get back on track.  The Organization is in need of new IT systems, team systems, and new approaches, as well as growth strategies.  There are several family members working in the company, none working in senior management.

Case Study 11

The owners/partners continually argue with each other over how the business is to be run. One, the marketing manager wants to expand the market as well as provide improved customer service. The second, an operations/financial person, is concerned that the profits are not there to support the growth. Another wants a new computer to get inventories under control and give timelier management information to reduce costs.

Case Study 10

A formerly profitable business has turned unprofitable due to competition and difficult market conditions. Margins are dropping, key employees have left, sales are down, and the vendors are wanting faster payment. The bank is concerned and wants more information faster. Some family and non family members are viewed as not bringing value to the firm anymore.

Case Study 9

The Owners of an unprofitable business want to position the company for a Sale.  They are concerned with how a high value can be attained while having family members in the management team.  Usually, a strategic plan will enable long term non family managers to stay on as well as family members, as the company increases the Sale Value.  In some client projects, the selection of a new non family GM take place, providing new leadership and direction.   In others, the family members remain, but in different, more effective positions.

Case Study 8

Costs are rising, margins are thinning, and there are disagreements with changing the way things are being done.  One department is fighting with another.  The amount of errors is causing a high amount of returns, rework, scrap, and bloated inventory.  We have helped companies figure out their costs, develop profitability by customer or product, create action plans that improve cycle times, reduce mistakes, and reduce inter-departmental conflict.

Case Study 7

Business has been growing rapidly. The CEO's short temper is  caused by frustration with his management team, who are working very hard but not getting enough done.

Case Study 6

The CEO/Partners have done their homework.  Their startup is not really a startup anymore as they have tested the waters, done their research, and have identified several customers who have bought their products and services.  The real test now is developing a plan that scales the business with high growth.  They need someone who will guide them through the details, put their thoughts into income statements, balance sheets and cashflow models.  We have helped raise millions of dollars for our clients in seed and debt financing using our trademarked templates call

Case Study 5

Management team or partnership is trying to figure out the direction of the company.  There are so many opportunities, with limited cash, that determining the best approach is a challenge.  They started the business "in a garage" and have grown it well.  They know their customers, they know what they do well.  Working long hours needs to change as their families want more of their time.  They do not have a well written business plan, but they do know it in their head.  They are close to making money or are doing very well.  They want to know if the

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