From Family to Team
Situation: The owner of a growing health-care service business had to design and navigate a path toward future success while preparing for his and his partner’s eventual exit from the family business. Closely held businesses have many advantages, but also some significant challenges as they transition from family to team and this company was experiencing many of them.
Intervention: The owner and I met monthly to sort through challenges, set priorities and review performance. In addition, the client had complete access to me for rapid response consultations on challenging issues that developed. Over a 3-year period, I was able to help the owner with organizational design issues and develop leadership paths for his key people. In addition, I helped to craft roles for the partners that would leverage their strengths and transition day-to-day control to the management team.
Results: During this period, EBITDA increased by over 50%, teamwork was significantly enhanced to focus on performance, and management roles and responsibilities were reorganized to optimize talent.
Questions? Call 303-527-0417 or email Todd.