Many companies once they grow to a certain stage, have a desire to be self-managing. They want to work without having one or two key people always present. I work with our clients on putting processes, procedures, and management teams in place, to make sure that the companies are not dependent on any one or two people.
The benefits include allowing the lead people to step away from the business to focus on things more strategic or to have leisure time. It also protects the company if anything happens to one of these key people, the business still has a path forward. The employees will not flee because they know that the business is bigger than the person and it allows the business to continue and to create more wealth.
I work with our clients on putting management structures in place using legal documentation and other processes to make sure that the owners are protected, and the value is protected, and the business can continue to move forward without one or more key people being present. It’s key to maximizing the value of the business.