Rose Matlock Consulting

Posts Tagged ‘management consulting’

Perhaps you are better at controlling your more seedy television viewing habits…no, not those!  Reality television. Yes, the soul sucking, script destroying, margin protecting mess that reality TV is, has become a known habit in the Matlock household.  Truth be told, it started with the wife but has now become a frequent habit for us both.  She’s watching the drama…but I am looking for lessons and business ideas.  Really Chris?  Lessons?  In reality TV?

Frankly, lessons and general principles are easier to learn in an exaggerated environment.  Often case studies in business school play up this fact by including over the top details that make it easier to learn a new concept or Read the rest of this entry »

Christmas and New Years are almost here and that means 2010 will be so close behind.  To win, leaders, managers and business’ will need fresh thinking, new ideas and a commitment to look anew at themselves and those they support to identify opportunities and make the most of them.

To help, Rose/Matlock Consulting (RMC) will be starting a  new series:

This will be a multi-part exploration of back to business basics, leadership insights and organizational breakthroughs to enrich your 2010.  Come along with us as we explore the fundamental behaviors of success for individuals and companies; we will also be looking at case studies and sharing experiences.  You will not want to miss a single one.  Make sure to subscribe to our RSS feed or look for a *new* newsletter and update subscription option soon!

Christopher Matlock, is available to train and speak with your group, management team or upcoming conference.  Email or call for rates and availability.

chris@rosematlock.com              

623-521-0875

Jim Collins, celebrated business professor, researcher, author and all around smart guy, published an article over 10 years ago that resonates deeply in today’s tight credit environment.  For those that know me, I have been talking for the last 12 months about how the change in the economy is not necessarily as intuitive as previous recessions.  We will be entering a period of lower credit availability.  In other words, there will be less money,  thus individuals and business’ will become much more picky about what they choose to buy or invest in. 

The takeaway for business is to think critically about what products and services they are putting into the market.  Are you targeting your most profitable client?  Is it a sustainable advantage?  What would happen if you had to re-price to the down side by 5%?  10%?  Worse yet, how about 50%?  Answers to these questions are best viewed use a blank sheet or Greenfield approach.  Collins, in building off this analysis advocated by management guru Peter Drucker, argues that you need to challenge yourself with what you might need to “un-plug”.  Companies and individuals simply cannot be all things, at all times to all people.  Attempting to do that or worse yet, failing to move on to the new expected product or service evolution can lead to irrelevance or failure in a blink of an eye.   

In a contrasting example, I watched one company grow from zero to $10 million in revenues almost overnight, based on the founder’s ability to create revolutionary products. Unfortunately, the company stalled out and was eventually acquired, because it never made the transition from being a company with an innovative founder to being an innovative company. The founder tried to solve the company’s problems by working extra hours on new products—in short, by more doing…he should have done less, which would have forced the company to become innovative independent of his genius. – Jim Collins

What do you need to un-plug from in 2010?  Given the chance to start from scratch, with what you know now…what would you do differently?  Do not be afraid of the answers because no one said the changes had to be implemented overnight but with reality based assessments here, you can build a rock solid implementation plan for the future..

The latest issue of Nevada Business had an engaging article about the issue of business sale and disposition.  During our challenging business environment we find ourselves in, the already daunting process of defining retirement goals, identifying the best transition strategy and then deciding what’s next has been magnified.

James Newman, attorney at Holland and Hart and Howard Olson of M3 Planning lay out the most common ways closely held business’ are transitioned:

• Simply selling the business;
• Taking the company public
• Securing a strategic partner
• Merging with another company
• Transfer ownership to a family member
• Sell to employees or other owners
• Liquidate

Each of these approaches has their own benefits and risks and should be evaluated not just in a financial light but also an emotional.  True, some strategies will produce more payoff than others but it is how the owner and proprietor feels that often carries the most weight.  Is this business a function of many years of sweat equity, a reflection of the owner’s passion for many decades, perhaps a family name involved?  If any of these are true, merging or partnering may not be the best outcome as autonomy may be lost.  As Newman states:

It may sound odd, but when you plan your exit, it’s also important to know what kind of deal or deal terms you don’t want. This way if someone presents you with something you can’t live with, you can simply move on

On the other hand, if the business is more detached and has simply been a source of income, then going public, selling to others (family or not) or even liquidation might be just the trick.  As I said, the key to each of these is too evaluate not just the financial implications but the emotional ones as well.  One would be wise to also consider if they desire any ongoing involvement with the business as a manager, consultant or another position. 

At Rose Matlock Consulting, we recommend confronting the issues of business transition at least five years in advance.  This allows you and your team enough time to determine your ideal point of arrival (POA) in five years and begin to move your business processes, hiring, management and strategic planning into alignment.  Organizations that do this, not only lessen their own stress about change but also identify potential buyers as well. 

Are you looking for advice about how to prepare your company for your retirement?  Sale?  Or just reaching the next level? 

Call today at 623.521.0875 or email at chris@rosemaltock.com