StrategyDriven Podcast Special Edition 7a – An Interview with John Leonetti, author of Exiting Your Business, Protecting Your Wealth, part 1 of 2
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag posts on the StrategyDriven website.
Special Edition 7a – An Interview with John Leonetti, author of Exiting Your Business, Protecting Your Wealth, part 1 of 2 examines how exit planning helps business owners preserve their illiquid business wealth and achieve their post business ownership goals. During our discussion, John Leonetti, author of Exiting Your Business, Protecting Your Wealth: A Strategic Guide for Owners and Their Advisors
- the five exit options
- identification of the best exit option given the business owner’s personal and financial readiness and goals
- the impact of taxes on exit option selection
Additional Information
Complimenting the tremendous insights John shares in Exiting Your Business, Protecting Your Wealth
About the Author
John Leonetti, author of Exiting Your Business, Protecting Your Wealth
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Strategic Planning Best Practice 13 – The Use of Calendars
All too often, strategic planning coordinators are frustrated by an inability to coordinate critical meetings such that all required individuals are able to attend. While strategic planning should be a high priority for all executives and senior managers, so are a great number of other tasks. To ensure the needed executives and managers are available, thereby making the most effective use of their time, it is important to schedule these critical meetings far in advance. By using strategic planning calendars, coordinators will have the prerequisite insight to schedule meetings far enough in advance to avoid conflict with other priority gatherings.[wcm_restrict plans=”40632, 25542, 25653″]
Strategic planning calendars often exist for long-range, annual, and quarterly/monthly meetings. Meetings occurring weekly or more frequently should be set up on a recurring basis, often at the same time each week, for optimal planning purposes. Activities associated with the three strategic planning calendars include such items as:
- Long-Range: vision and mission validation, long-range objective goal setting, strategic resource and long-range budget projection development, long-range plan development/renewal
- Annual: annual executive offsite retreat, annual goal setting, resourcing, and budget development, ongoing initiative validation and new initiative development, annual plan development, Board of Directors meeting (plan approval), annual shareholders meeting
- Quarterly/Monthly: initiative progress/status reporting, state of the business reviews, market and competitor updates (may be part of the more routine meetings depending on the organization’s competitive landscape), Board of Directors and committee meetings/updates
These calendars should exist at each level of the organization conducting business planning activities. Scheduled meetings should be coordinated between organizational levels such that subordinate groups meet first and report results to associated senior groups at their subsequent corresponding meeting.
Once identified, each strategic planning meeting should be assessed to ensure only the participants required to ensure an efficient, successful outcome are invited. These meetings should then be scheduled far enough in advance to avoid significant conflict with or the need to work around other important prescheduled events. Using strategic planning calendars in this way will help ensure the right people are available for the organization’s important strategic planning meetings.[/wcm_restrict][wcm_nonmember plans=”40632, 25542, 25653″]
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StrategyDriven Podcast Episode 25 – Frame of Mind Coaching: Journaling for Success
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles found on the StrategyDriven website.
Episode 25 – Frame of Mind Coaching: Journaling for Success explores the personal performance improvement process of journaling. Kim Ades, President of Frame of Mind Coaching, introduces her process of journaling; during which ones limiting thought patterns are identified and replaced with a new way of thinking that ignites significant personal and professional change. This discussion:
- reveals the impact of ones thoughts on results achieved
- examines how journaling uncovers limiting thoughts
- introduces the process of ‘trading up’ for more empowering thoughts
- identifies the added benefits of guided journaling
Additional Information
Complimenting the invaluable insights Kim shares with us in this podcast are the additional Frame of Mind Coaching materials and resources found on her website, Frame of Mind Coaching (www.FOM52.com).
Final Request…
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Thank you again for listening to the StrategyDriven Podcast!
About the Contributor
Kim Ades is President of Frame of Mind Coaching and one of North America’s foremost experts on performance through thought management. For over ten years, Kim has helped business professionals achieve exceptional results. By using her unique process of coaching through journaling, she works with clients to unveil and switch their thought patterns to ignite significant change and life transformation. To read Kim’s full biography, click here.
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Strategic Planning Best Practice 12 – Planning for the Best and the Worst
Strategic plans present the best estimate of what planners, executives, and board members believe will take place within the market environment under the most likely to occur circumstances. But what of the activity of strategic planning itself? Shouldn’t an organization also be prepared to deal with best and worst case outcomes? Or should market forces be allowed to conspire unopposed to create an outcome other than that predicted?[wcm_restrict plans=”40640, 25542, 25653″]
Planning for the best and the worst is a type of scenario planning; representing the types of marketplace extremes an organization may experience during implementation of its strategic plan. What makes this type of scenario planning unique is its assessment of the organization’s entire process, program, and initiative portfolio under potentially occurring extremes in market environment conditions. The benefit of using this type of planning is that it makes visible both the aggregate and individual performance of the various portfolio components; enabling leaders to balance risks and rewards to maximize benefit realization and minimize downside exposure. To maximize this benefit, organizations should perform the following accompanying activities:
- Corporate Portfolio Adjustment: alteration of the combination of processes, programs, and initiatives undertaken to seize opportunities while limiting downside risk, particularly to one or a few market variable changes, to within organizationally acceptable tolerances
- Best Case Outcome Contingency Planning: development of actions the organization will take in the event significantly better than expected results are achieved
- Worst Case Outcome Contingency Planning: identification of preemptive actions the organization will take to mitigate the consequences of adverse outcomes
Final Note…
While many plan for the worst, I cannot stress enough the importance of also planning for the best conceivable outcomes. All too often, leaders realize gains beyond their wildest expectations only to find themselves lost, unable to deal with those gains; subsequently falling prey to indecision and inactivity while aggressive competitors adapt, grow, and surpass them. Remember, plans are almost always better when conceived early in the calm of the boardroom rather than hurriedly when circumstances demand an immediate response.[/wcm_restrict][wcm_nonmember plans=”40640, 25542, 25653″]
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New Model Release – Decision Alignment Model
StrategyDriven contributors are pleased to announce the release of our eighth model: Decision Alignment Model.
Credibility of the organization’s mission and values depends largely on management decisions that exemplify them. Maintaining credibility includes strong reinforcement of mission goals and organizational values when decisions are made that affect cost, production, and/or schedule.
Consistency between leadership’s decisions and the organization’s mission and values is vital in light of today’s growing production pressures. Whereas personnel attitudes and actions reflect those of their supervisors, all executives and managers must continuously reinforce their commitment to the organization’s mission and values, particularly through their decisions. It is only when personnel perceive management’s commitment as unwavering that their day-to-day decisions and activities will align with the organization’s overarching objectives.
The StrategyDriven Decision Alignment Model is an easy-to-use tool that helps leaders assess the consistency of their decisions with the organization’s mission including identification of outcome misalignment causes.