Ownership Transition

The Visionary Conundrum – Business Succession

The Visionary Conundrum - Business Succession

Heard this story before? A successful business owner is preparing to retire. He has a daughter that’s already in the business who he desperately wants to succeed him as CEO/Visionary but something is holding him back. The business owner can’t put his finger on it, but he feels that she may not be ready to take over. What gives? It’s what we call “The Visionary Conundrum.” For those unfamiliar with the EOS® term, a Visionary is the leader of an organization (CEO, President, or Founder) who is responsible for generating ideas about future opportunities and creative ways to expand. Visionaries are most likely entrepreneurs who are big picture, forward thinkers. We have found that in certain instances the angst that business owners feel about giving up the reigns to the […]

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Thinking About Transitioning Away from Your Business?

Transitioning Away from Your Business

Are you thinking about transitioning away from your business? There’s a startling statistic out there for us baby boomers. According to the U.S. Census Bureau’s 2017 National Population Projections, all baby boomers will be older than 65 by 2030 which means that we need to be preparing for retirement…NOW. At Trilogy Partners, we’ve seen the trend of business owners who are seriously contemplating the transition out of their business whether by selling, merging or shifting from the top role. I commend those owners who have the courage and foresight to recognize that their business will or should outlast them. It’s a hard pill to swallow. When owners come to us looking for support and guidance, they often think we will start with the typical process: 1. Reviewing both company and […]

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Navigating your Family Business from Conflict to Accomplishment

When working with family members in business with one another, something reveals itself over and over – the ties that bind also serve as stress points for potential unraveling.  With expertise in group and family dynamics, conflict management, and behavioral science, I am often asked to provide consultation and coaching to Trilogy clients with family-owned businesses who recognize that “things could be better” from both business and personal perspectives.  Does your family experience any of these issues causing conflict and misunderstanding? Decisions about the future direction of the business. Differences in leadership styles, practices, and core business values. Permitting undesirable and potentially destructive workplace behaviors to (erroneously) maintain harmony. Differences in performance and time commitment. Compensation of those actively vs. passively involved in the business. Fairness, equity and expectations around […]

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Ownership Transition – Key Things to Consider

All of our clients own businesses, and a recent Washington Post article claimed that sales of small businesses hit a record high in 2016.  From time to time, business owners get to a point in their lives when they want to map out an effective exit strategy for at least two reasons: 1) they would like to enjoy themselves while they’re still in good health; and, 2) they want to ensure their company’s legacy for the sake of their employees (and customers). Trilogy Partners is currently working with a number of clients to transition business ownership either to internal hands (remaining owners, employees and/or relatives) or external hands (other companies or entrepreneurs).  In both instances, the owner is usually interested in maximizing the sales price, while also ensuring that the […]

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