Action
“They most overtly modify their behavior”
- Busiest period and one that requires the greatest commitment of time and energy.
- Changes are move visible and receive the most recognition.
- Business owner is ready to take action to address transition/succession issues
- Implementation of Transition/Succession Planning Process
- Success is measured by deliverables that are identified as desirable within the Preparation Phase
- Examples of deliverables include: a governance process that involves the ownership/business/family domains, a communication model within each domain, corporate legal documents, estate planning documents, a multigenerational leadership training program
- Trusted Advisor continues to quarterback the process
Note:
- This tool can help Trusted Advisors educate clients while they are in the earlier stages of change/transition. Support for clients who are interested in transitioning is often lacking when they need it most. During the precontemplation and contemplation stages many companies need assistance with beginning to think about change and can improve awareness, emotional commitment, self image and move closer to Action Stage.
- Successful programs, resources and tools will differ greatly for clients who are in the Precontemplation stage from those who are in the Action stage.
- No stage is more or less important, for example, a move from Precontemplation to contemplation is no less significant.