[ad_1]
Some years ago, during a presentation by the late Steven Covey, I heard this phrase for the first time: “Begin with the end in mind.” A similar sentiment (if slightly more direct) was offered by Friedrich Nietzsche: “The most basic form of human stupidity is forgetting what we are trying to accomplish.”
This idea came to mind when working with a client on succession planning. At first, there was resistance to this line of discussion. The thought was that since a transition was not to take place until sometime in the future, why think about it (or plan for it) now?
Contrast this with another client who began the process of selling their business. This was not by plan, but by circumstance as they were approached by an interested third party. As the discussion moved from curious to serious, an interesting thing happened. The senior leadership team began to pay attention to many organizational needs that, over time, had been ignored or overlooked. Beyond tidying the place up a bit, both inside and out, the team began to review its processes, workflow, customer review, financial and business reporting. The appearance of everything and everyone (including the cleanliness of their delivery vehicles) moved to the top of the priority list. In other words, they began to view their business as a potential buyer would.
While that transaction did not come to pass, there was lasting value in this exercise. The protocols put in place during this process became standard operating procedure. The idea was to operate all phases of the business as though a potential buyer/investor was watching. A subtle but powerful approach.
The final class in New York University’s Integrated Marketing Master’s program requires each student to write a business plan. Many are surprised to find that a fundamental item is the transition plan. “Why are we planning to transition a business we haven’t even opened yet?” is a common question. The answer: Begin with the end in mind.
For more information on ways to super-charge your planning process, contact me at joe@ajstrategy.com.
[ad_2]
Source link