Ownership Skills

Ownership transition planning is the process of preparing up the right people to take over important roles in the company as the company transitions. The process typically entails identifying and then developing promising candidates for promotion, thereby maximizing the likelihood of a smooth and successful transition.

BTC can aid leadership development by coaching. Periodic coaching sessions focus on one or more of the following goals:

  • Improve relationships with employees and owners;

  • Create a stronger vision of the company's strengths and the potential for the leader's contribution;

  • Identify conflicts and weaknesses that are obstacles to progress;

  • Develop processes for focusing decisions and taking timely actions;

  • Identify bottlenecks to personal and business growth;

  • Improve behavior to eliminate adverse management results (for example, eliminate negative management behaviors such as being too assertive or argumentative);

  • Achieve an appropriate balance between business and personal needs; and

  • Increase time management skills

Coaching is done with sensitivity to the qualities that make each person and business unique. Managers need to identify the strengths and weaknesses of their workforce, and then motivate, terminate, and cooperate with employees. For owners who have difficulty understanding their values or communicating those values, coaching can facilitate better communication and cooperation. A common benefit in coaching is that important goals become clearer, while obstacles become less murky and formidable.