Organizational consultant, David Stanislaw, is scheduled to present an online interactive workshop, “Business Succession Planning: Ensure Your Company’s Future” through the University of Michigan, Flint, on January 12, 2022. Get an advanced look the contents of this forward-looking workshop and find out how to register now so you can be certain your small business or family business is ready for the future.
Business Succession Strategies from an Organizational Consultant Focused on Your Company’s Future
David Stanislaw, founder and principal of Stanislaw Consulting, assists in elevating the workplace experience by enhancing organizational health. David helps family-owned businesses and small- to medium-sized companies with organizational issues, including planning for the future. He resolves workplace conflict, provides executive coaching, and facilitates succession planning. By helping executives and business owners focus on their companies’ values and future development, David enables organizations to get on track to meet their business goals and objectives.
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David will bring all that experience and expertise to UofM Flint on January 12, 2022, from 12:00 to 1:30 pm in an interactive webinar-style workshop designed to help participants focus on the future of their business. With plenty of time for questions and personalized attention and application, the goal of “Ensure Your Company’s Future” is to teach workshop participants:
1. Why You Should Spend Precious Resources on Developing a Succession Plan
As a small business owner, your time and resources are valuable. Everyday demands can keep you from focusing on the future or developing goals for your business. If you don’t dedicate some of your time, money, and attention to developing a clear business succession plan, your company could find itself caught unprepared when a leader must step away unexpectedly. Spending time on the question now will help your business right away, and in the future. Getting clarity on the company’s vision, strategic plan, and processes can help to streamline the way work is done and make sure everyone on the team is focused in the same direction.
2. What is In a Succession Plan
A business succession plan is a playbook that your company and key decisionmakers can use when it comes time to hire a new executive. This includes when you, the business owner, are ready to retire or step away from day-to-day management. Every company’s succession plan will be different depending on the corporate structure, existing assets, and business goals. However, most succession plans will address:
- Strategic planning to clarify the company’s vision
- Techniques to identify internal candidates and recruit outside talent
- Considerations for relatives’ interests and expectations within a family business
- Budgeting for recruitment, hiring, and training
- Timelines from recruitment to full transition
3. What Does a Succession Planning Process Look Like?
During the workshop, David will walk participants through the succession planning process. He will guide them through the parts of the plan and how to develop them. There will be time to create a sample succession plan and get feedback from an organizational consultant about what works and where your company may need to do more work. Participants can take this preview back to their businesses and guide their teams toward developing a robust succession plan to use in case of emergencies, and in the future.
4. Who Needs to Be Involved in This Process?
The workshop will also help participants identify their corporate transition team. Even solo business owners need the input from other key stakeholders, including board members, key employees, and financial controllers, to guide the process. In addition, participants will come to understand the role of an external consultant in facilitating the succession planning process, and getting unfiltered feedback from the next generation of potential leaders.
5. What are the Obstacles to Success?
During the workshop, David will also cover some of the most common obstacles that keep business owners and executives from successfully completing their exit strategies. From starting too late to failing to consider the financial costs of transition, the workshop will highlight what causes some small businesses to close when their founder leaves. Then David will provide strategies to avoid those pitfalls and set your business up for success under new leadership.
Get Registered for the Business Succession Planning Workshop Today
“Business Succession Planning: Ensure Your Company’s Future” will occur online through Zoom and the University of Michigan, Flint, on January 12, 2022, from 12:00 p.m. to 1:30 p.m. EST. This workshop is sponsored by the Michigan Economic Development Corporation and 100k Ideas. There is no cost for this event, but you must be registered to attend. Sign up at go.umflint.edu/succession.