The transition plan, addresses transition of the business to its successors. This includes planning for a change in ownership, management or management structure. Development of a transition plan involves personal, financial, family, business, and legal issues. Transition planning involves the process of identifying and qualifying the right people to take over important roles in the company as they become vacant. The process typically entails identifying and then developing promising candidates for promotion, thereby maximizing the likelihood of a smooth and successful transition. It is challenging to plan for change of such complexity and significance.
BTC services are customized to meet each client's needs, with sensitivity to the qualities that make each person and business unique. For example, BTC helps managers identify the strengths and weaknesses of their workforce, and then coaches them on how to motivate, terminate or co-exist with employees. For partners or co-owners who have different values or visions, BTC can facilitate better communication and cooperation. A common benefit results from coaching engagements - important goals become clearer and gain priority, while obstacles become less obscure and formidable.
For many closely-held companies, middle-market companies, and family businesses, BTC develops support systems that help leaders overcome inertia. BTC identifies difficult issues that are often avoided, such as upgrading the quality of employees or planning management succession. BTC strives for a more open and effective decision-making process, in which leaders can perceive reality and make plans and decisions more openly and honestly.
