Additional Consulting Services
Summit Partners have worked with many companies to provide a business coaching program that involves a comprehensive involvement at all levels of the client's business. We have however also met with a wide variety of companies who have asked us to provide core elements of the total coaching program to assist with particular problems, issues or opportunities. Typically these include facilitation in a number of areas such as succession planning or strategic planning. Summit also acts in some instances as a management advisor providing a healthy outside view on key issues. Should you require specific assistance in the following areas in managing or growing your business, please give David Wolrige a call.
Strategic Planning
To grow your business, it is critical to create a strategic plan with a forward 3 to 5 year view. Summit Partners has developed a structured model for the facilitation of effective strategic plans. The Summit Way involves the owners and or key stakeholders in powerful offsite planning days that provide an opportunity to address past performance, review current challenges and assess opportunities. These planning days include our thorough Business Insight review program to gain an in-depth current view analysis. The Summit Partners strategic planning model will develop key objectives and the strategies required. Equally it is an opportunity to reflect on our core ideals for long term success - our values, ethics, our purpose, standards of service.
Business Valuations
Summit Partners will provide sound, justifiable valuations. Our clear concise report can be used for succession planning, SME acquisitions, mergers, or to gain an intermittent view by owners of the value of equity in their business when assessing future growth particularly the appointment of new partners.
Financial Management
One of the core elements of the Summit Partners coaching program is the need for setting and maintaining strong financial controls - what you can measure you can manage. So important and central to the efficient running of your business, Summit now offer financial management as a separate consulting function. Summit will help you develop key strategic financial objectives through to yearly, monthly, weekly accountability targets as a platform for monitoring performance. The Summit system will allow you to measure key financial control elements such as actual financial performance to targets for budgeting, cash flow forecasting and liquidity management.
The focus here is to develop & monitor your key financial performance indicators to:
- Drive performance
- Define priorities
- Assess opportunities & challenges
Succession Planning
Perhaps one of the most common areas for advice and facilitation is succession planning and is most certainly available from Summit partners.
This is the early transfer of both management and control of a business, which may not necessarily mean a complete exit. It may mean the sale of the business outright or the owner/partner retaining equity in the business & receiving profits after withdrawing from management. However in essence it is a focus on redundancy for the right reason.
A key is firstly to strengthen the business in terms of sustained profitability and asset building built on a platform of solid systems.
There are a number of different options when it comes to succession planning. They include:
- Sell the business
- Full or staged management buyout
- Family or employee succession
- Merge
- Franchise
- Close the business and sell off the assets
The purpose of succession planning is to endeavour to come up with the preferred solution to:
- Psychologically handle the transition out of the business for the existing owner - fears, doubts, the prospect of withdrawing
- Enhance exit value
Plus Summit will assist development of the preferred options and then complete the whole succession planning process within desired time frames.
Management Meetings
This service is offered to all Summit Partners' clients who have completed their coaching program. Summit Partners attends a regular Management Meeting, be it monthly/quarterly/ or 6 monthly, and is designed to ensure the momentum achieved through business coaching is maintained after all the foundation coaching modules and systems are implemented. The sessions can also encompass, growth target reviews, blue sky thinking sessions, address new business opportunities.
Summit will prepare in concert with your senior people a thorough agenda and provide an analysis of decisions or directions following each meeting.
These meetings take advantage of the knowledge base gained by Summit through the coaching process.
Corporate Restructuring
Corporate restructuring whether it involve new companies, partnerships, trusts or finalising old structures can be handled by Summit Partners and where appropriate using qualified specialists to ensure a smooth transition. Obviously a significant number of key issues need to be covered including commercial, legal and in particular, taxation ramifications of concluding old structures. When required we can also develop new positioning and imagery to maximise the benefits to be derived from the new structure.
Acquisitions & Mergers
Growth is a key issue for all businesses. Acquiring or merging with other complimentary businesses is a strategy that has many benefits when part of an overall plan. To ensure a successful outcome it is imperative that a thorough due diligence and assessment of the results need to be conducted. Summit Partners managing a team of qualified professionals will ensure you maximise the benefits of your growth strategy.