Leadership is core to New Zealand business, the economy and our future. The leadership talent pool available to New Zealand SME’s is shrinking rapidly. The trends show that attracting and retaining leadership talent will fast become an even greater challenge for New Zealand business
So you have decided on your exit strategy and gradually transitioning to a new owner is the plan. How do you ensure that your SME business prospers and remains focused when transitioning during this period? Strong governance of course.
January is the time of year when many corporate executives reassess goals and contemplate the challenges ahead. It is also a time where job satisfaction and longevity are often front of mind. Many just look for another corporate role but there are other options for those brave enough to take them.
Most business owners understand the general concept of a Management Buy Out (MBO) where existing staff agree to buy out the owner. What is less understood is a Management Buy-In (MBI) from an outside leader.
Additional complementary skills and capability are often needed to turn great business ideas into commercial success stories. While advisors and consultants can add value, what is sometimes required is the business owner partnering with a talented person who can work in the business in a full-time capacity to help drive it forward.
So often in established businesses and with experienced long term owners the struggle is getting out of the looking ‘at the road directly in front of your wheel’ and look ahead. Does that investment make good sense next year? Does that new person have the capability to add more value than just gap filling today? Do my systems keep me on the road, so I can look further down and around the corner.
Graeme's business continues to demand his full-time involvement and not always in areas where he believes his time is best spent. He’d like to focus more on a good opportunity he has identified to grow sales.