Phillips Brothers | Business Coaching Results
Succession Phase
The Challenge
A family business brings its own unique challenges. To ensure the relationships remain strong a huge amount of emotional intelligence is required. Phillips Brothers, enjoying their 4th generation, had no clear succession planning for the current and future shareholders. This left the business exposed to any demands the family chose to present at any time. Like many family businesses everyone mucked in and got the job done, however this offers the team no clarity or clear direction and a results in a lack of efficiencies. The challenges were heightened with a pending relocation and huge investment for new plant. The numbers had to add up and fast.
The Actions
With a new location and heavy investment it was time to steady the ship and ensure that the foundations of the business were strong enough to support the new financial commitments and future growth. We quickly identified the strengths of the key team members and defined their roles, giving the rest of the team clear reporting lines and structure. Once the business was settled in their new home and on course for increasing sales we focused on succession planning. This was a difficult and timely process with the introduction of a new family member. Five generations of history, experience, knowledge, skills and personal wealth had to be considered and aligned to the business results, whilst ensuring family relationships stay ed strong.
The Results
Working with Jane has been a privilege, she has become a strong leader who has worked extremely hard on her own self-development, belief, and confidence as well as protecting the family business. Jane can now enjoy the culture and values she has introduced to her organisation. She is committed to her team and continuously looks to invest in them as she recognises that they are the future of Phillips Brothers.
Succession planning is a continuous process. As one generation exits, another is welcomed. Phillips Brothers now have strategies in place and can identify the future leaders.
The Business has seen enormous growth in sales and profits in the last 4 years and I believe this is a direct result of a clear vision, strong leadership, defined roles, the ability to assess risk and take action. The business goes from strength to strength and has a very exciting and rewarding future.
