6. BRIDGE Bad Ass I.T.
IT Backbone Services for Fast-Growing Companies and Chain
Wilfred Morgan | Head of Bridge B.A.I.T.
Contact Will at will@bridgesoutheast.com
9. "What is a high performance team?"
"How do I build a high performance team?"
"How do I transition a high performance team to the next generation ?"
HIGH PERFORMANCE TEAMS
#futureproof
24. % of Family Business That Survives the
Transition:
#futureproof
Generation
!
1st to 2nd
!
2nd to 3rd
!
3rd to 4th
% that survive
!
30%
!
12%
!
3%
25. What are the benefits of
succession planning?
What good leaders do to
create a successful transition:
#futureproof
26. • assist in providing for family’s future
• minimize future tax liability
• provide financial stability to business
• maintain family harmony
#futureproof
27. • prepare successor for the future
• maintain harmony with employees
• increase value of the business
• improve financial standing of
business
#futureproof
28. The Canadian Federation of
Independent Business (CFIB)
surveyed successors of closely
held companies and found what
successors valued most:
#futureproof
29. • Prepared me to be a business owner
• Assisted in stakeholder relations
• Provided financial stability to the
business
• Improved financial standing of the
business
#futureproof
30. • Increased value of the business
• Fostered harmony with employees
• Fostered family harmony
#futureproof
32. • Do you have the next leader selected?
• Do they know they’re the next leader?
• Do you have a process to prepare the
new leader?
• How long is the process?
#futureproof
33. • What date is the leader or leadership team’s last day?
• Is the current CEO/President the Founder/
Entrepreneur?
• If the transition involves the legacy senior leadership…
• Who should go first?
• CEO
• COO
• CFO
• Senior VP Sales
• Or should the entire team move on together?
35. • If the next leader is a family member, have
they ever been employed outside the family
business?
• Were they successful in other business
pursuits?
• What skills do they bring to the
organization?
#futureproof
36. • Are other family members involved in
the business?
• Will non-family members agree with
the decision?
#futureproof
37. Who should know the plan
&
When should they know it?
#futureproof
38. • Does your senior leadership team
know the plan?
• Are clients aware of the succession
strategy?
• Do clients have confidence in the new
leader?
#futureproof
39. Keys to a Successful
Transition of Teams
#futureproof
40. #1 Key: Respect!
!
• Mutual respect is key
• Honor the history while pushing past
certain traditions
• Respect what came before
• 50% of companies fail in first 5 years (Gallup-
October 23, 2014)
41. Legacy Leaders Be Willing to:
!
• Mentor next generation
• Walk away at the agreed-upon date
• Build team
1. Have the next leader watch
2. Communicate their role
3. Perform role side by side
#futureproof
42. Can your business sustain a
leadership crisis?
!
April 24, 2014 - the president, my business partner and
friend was murdered along with his son and a doctor.
!
If this happened in your business, is it prepared?
Do you have the next leaders in place?
Does your business have a plan?
Is your plan in writing?
Is your plan legal?#futureproof