Is Your Management Team Increasing Your Business Value?

Is Your Management Team Increasing Your Business Value?

By Peter Ventre

February 26, 2013

Business Meeting with PaperYou’ve worked diligently to grow your company.  You’re building a solid management team that you can count on.  This management team should allow you to step back a little from day to day business, and focus more on strategic matters, positioning the company for the future.  You know your management team members well; many have grown up with you.  You know they are loyal and devoted. 

But are they achieving the results you desire?  Are they objectively measured against fair, but challenging goals? Are they each in the right seat? Are they receiving sufficient mentoring and training?  Do they each see their individual path forward within the company?

A complete, trained, and focused management team is more important than ever in creating business value.  Most business owners feel they can fairly assess their management team.  “I know my people.  I know who is best”  is an often heard retort.  But have you used objective criteria to confirm these instinctive assessments?

Remember:  the more dependent the success of a company is upon the actions of its owner, the less value it has to a new owner.  So the value of your team is paramount. 

Consider an independent third party assessment of your management team.  Professional coaches and consultants can give you a fair and independent assessment of your team.  It may lead to surprises.  It may be confirming.  In any case, it will be money well invested prior to any thoughts of positioning your business for significant future growth, the use of outside capital, or a sale.

Posted by Peter Ventre.

 

 

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