Ten Steps to maximize shareholder value

According to Family Business Institute, 2/3 of the baby boomer owners of businesses in the USA and Canada  will not transfer their asset to their children.  There will be a huge wealth transfer.  Only the best prepared and positioned owners will get top dollar.

1. Clarify the “cultural Values “of your business and get everybody using them to generate Corporate energy.
2. Establish an ethics platform that clearly delineates behavioral boundaries
3. Enforce a zero tolerance attitude towards for process non compliance and ethics violations
4. Move details about how your business operates out of your head (away from  the seat of your pants).
5. Reduce management’s reliance on personal authority  and manage by “process-discipline”
6. Replace departmental silos with strategic processes that align managers and employees behind the customer’s total experience.  Assign a process owner (designated worrier) and a process team (up to 3 people) for each strategic process.  These people will retain their “day jobs”.
7. Transform job descriptions into documented  task processes that spell out , the desired outcome, a check list of steps in completing the task, and how the task will be measured (each employee will be responsible for several task processes).
8. Implement an employee centered continuous improvement system that reduces waste and rework.
9. Standardize supervisory protocols.  Measure the supervisory effectiveness of everybody with direct reports (including the CEO):   
10. Help every employee paint themselves into a picture (VISION) of the companies preferred future—then celebrate successes as you move towards that vision.

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