The third generation president of a retailer
with hundreds of employees was planning a bold move to
transform the business. However key team and family board members
had expressed serious concerns about timing, cost, employee reaction
and the potential negative financial impact. The leader presented
this to his CEG MasterMind Board. His peers asked deep questions,
identified potential blind spots, provided some invaluable strategic
advice including practical ideas about how to win family-member
support. With the help of his MasterMind board and CEG Coach, he was
able to present his strategy in a way that addressed concerns and
won the support of family members and key employees. The
implementation went smoothly and resulted in increased family-member
trust, greater employee engagement & productivity, customer praise
and business growth & profits that exceeded projections.
The founder & CEO of a financially
successful 30-year old software and services company asked
asked his CEG MasterMind Board for ideas on how to get his son
onboard and prepared to eventually take the reins of company without
having to give-up control and retire before he was ready to do so.
He also wanted to make sure a long transition did not created
conflict with his son or other family members. His CEG MasterMind
Board members shared what they had seen work and not work within
their and other family businesses. His peers also recommended two
consultants that they felt could help. Worked with one of the
recommended consultants, his CEG Coach and MasterMind board, he
successfully made a seven-year transition from CEO to retired &
respected advisor to his son.
The president of a manufacturer of specialty
audio hardware & software was facing a decision of
whether she should down-scale the low-margin consumer product part
of the business (which was created by her father, now the
semi-retired CEO of the company) to focus more resources on the
highly profitable B2B part of the business. Her CEG MasterMind Board
helped her identify and contrast the pros and cons of various
options along with the data and research she would need to make the
best decision and win the support of her father and younger
brothers. The outcome was a clear cut, well thought-out decision
that her father (and brothers) were able quickly see as the right
decision for the business. The changes went smooth and quickly
resulted in achieving desired revenue goals.
The 2nd generation CEO of a family owned manufacturer of industrial and consumer products was planning to replace a long-time distributer in Asia with a newly formed company-owned distributer. He shared the plan with his CEG MasterMind Board, requesting their ideas on how to win the support of the founder who had a long-time relationship with the owner of the distributor and also make sure the distributor did not become a competitor in the region. Questions were asked and strategic recommendations and ideas were generated which he used to refine his plan. The plan was then implemented with the full support and relationship assistance of the "retired" founder. The results were higher than planned revenues, no lost customers and a civil, non-competitive relationship with the former Asian distributor.
Are you willing to invest the time needed to make
and the family business succeed & thrive?
— Helping Chief Executives Achieve the Business Results and Life they Desire since 2006 —