This blog is a product of Kevin Lovewell’s journey from Carl Gould’s book Seven Stages of Business Success.

Phase 7 – Succession

Stage seven represents successful succession occurring, the owner has a retirement or exit plan – their legacy is in position structurally and financially.

The owner has found a buyer or the IPO is in position.

Conclusion

In this essay we have framed organisational growth as a race, with seven predictable phases of acceleration, slowing, crisis and recovery. We have identified the characteristics of each phase using three elements; ownership planning and control tasks that are important, together with managerial characteristics that evolve from each crisis; and shaping the right organisational structure.

The intent of this essay is to highlight that the future of any organisation is not so much fashioned by externalities than by deficiencies and downright failures of contemporary business thought. The traditional business plan falls well short of being an adequate tool for owners. This however can be overcome by using simple, structured yet uncomplicated plans that focus on the underlying phase of organisational growth being confronted. We have produced many business plans using this framework and we have called them “business plans on a postcard.”

Obviously I have adapted Carl Gould’s underlying directions with knowledge gained in my travels. I still encourage people to read Carl’s book and there are a few others like Alexander Osterwalder’s 2009 book called “Business Model Generation.” Looking forward to your comments and going a bit further in my next blog. ~ Kevin

If you need more information, please talk to me:

Kevin Lovewell

0401 308 385

References:

Some interesting texts the author recommends are:

Gerber, M. (1998) The E-Myth manager: Whey Management Doesn’t work and what to do about it, Harper Business, New York

Gould, C. (2010) the seven stages of small business success, Keynote Publishing, Charleston

Greiner, Larry E., Evolution and revolution as organisations grow (1972) HBR

Reynolds, S. (2010) Why People Fail: The sixteen obstacles to success and how you can overcome them, Penguin Group, Sydney

Tan, J., Fischer, E., Mitchell, R., & Phan, P. (2009) “At the centre of the Action: Innovation and technology strategy and research in the small business setting” Journal of Small Business Management 47(3):233-262

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Kevin Lovewell

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Graham Long

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