Service businesses
Our client was a professional firm with a number of shareholders of different ages and different risk tolerances. Some wanted to grow the company, while others treated it as a lifestyle.
Our client was a professional firm with a number of shareholders of different ages and different risk tolerances. Some wanted to grow the company, while others treated it as a lifestyle. They had difficulty reaching a consensus on a growth strategy which paralyzed any plan of action. Another issue was the top level of management wanted to liquidate their shares while the second level of management was not willing to take on the risk of buying those shares. While the company faced seemingly attractive growth opportunities, a quorum of the leadership could not be reached to move in any direction. The group determined that they needed a facilitator to release the gridlock of indecision.
Once engaged, Next Point conducted a situational assessment in order to better understand the group’s expectations in terms of an outcome. The process involves one-on-one interviews with each stakeholder to determine each individual view on the pertinent issues. Next Point delivers a report to the group outlining the issues ranked by importance, and offers a number of possible resolutions to solve the most immediate problems. This impartial mediator type approach helps each stakeholder feel as though their issues have been heard and addressed. The group together develops a consensus for the next steps to take toward reorganizing their governance issues.
Through Next Point’s facilitated assessment and discussions, the shareholders developed a consensus on the next steps needed to address governance issues and move beyond the decision-making gridlock that had prevented the firm from pursuing growth opportunities.
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