“Turning a new page” – Using strategy to guide growth and succession planning
Link Pumps is a family owned business that has been operating successfully for over 50 years.
The business owners were considering how they might simultaneously achieve two objectives. Firstly the business owners wanted to prepare the company so that they could retire from the business; and secondly they wanted to ensure that the business was properly set-up for the future.
Our role in Strategic Planning for Business Growth and Succession Planning
- To help the directors plan for the future and work out how to retire.
- To help create a strategic business plan and marketing plan which map out how the business will change and grow.
- To help the owners understand how to influence and manage change.
- To help the owners start to change the culture.
Outcome
- The owners have a succession plan in place.
- The company has a well thought out strategic plan.
- The culture is starting to change – to become more professional.
- The owner, John Link, is happy to share …
.. that we have had a close, personal and positive influence on the changes made
.. staff have much more clarity and direction
.. their behaviour is changing to suit the current economy
.. more customer focus and better internal communications
.. more discipline with managing process, safety, projects and costs
.. the new general manager is making a huge positive difference
.. revenues are up on last year and profitability has improved.
Steve Wood of Roaring Success has been the outstanding consultant in my 57 year of being in business. He put in tremendous effort and enthusiasm and became, in effect, part of my team for the 4 months we were involved together. In a family business the problems are not easily solved and Steve put the time in to understand the culture and encouraged us to find answers.
The answers were not obvious at first and amongst many suggestions was the recommendation of a suitable general manager that had extensive knowledge of good business practice.
The current improved results were started by Steve. I am happy to be rung for more details.”
John Link, Managing Director, Link Pumps and Engineering, www.linkpumps.com.au
