Practical guidance, research and considered views for business owners, future stewards, investors and advisers.
9 pieces of writing
A company can remain profitable, respected and useful while becoming increasingly vulnerable to the retirement of one person. We examine why succession is often delayed, why conventional sale processes do not always solve the problem and what owners can do earlier.
Buying a business requires capital. Leading it well requires judgement, patience, credibility and a willingness to accept responsibility for people and performance. This article sets out the qualities we believe matter most.
Succession preparation can begin long before a sale process. Better management information, delegated responsibility, documented systems and a credible leadership team can improve both resilience and optionality.
Acquisition entrepreneurship offers a different route to ownership: one with customers, employees and operating history already in place. It also brings obligations that founders of new ventures may not immediately face.
The capital structure of a succession transaction can influence the behaviour of the new owner and the stability of the company. We consider what alignment may look like in practice.
Established regional businesses are often anchors of employment, supply-chain relationships and skills. We consider what is at stake when an owner retires without a successor.
Patience is not passivity. We examine the disciplines that distinguish genuine long-term ownership from deferred decision-making.
An interview exploring the experience of acquiring an established business after previously owning another, and what changed the second time around.
Matching a business with an owner-steward is not a checkbox exercise. We outline the factors we weigh, and why both sides must be able to make an informed decision.
Occasional writing on business succession, owner-stewardship, acquisition entrepreneurship and long-term ownership.