Management changes often represent critical milestones for small companies. Whether caused by retirement, growth, industry changes, or other reasons such as the desire to take advantage of new opportunities, having a process to properly evaluate needed skills and pick strong candidates is paramount. In some instances, interim management is needed; Lightfoot Group has served in this capacity on numerous occasions.
No change has more significance than when it involves the company’s CEO, especially if the company lacks a CEO succession plan. This is especially the case in family businesses where emotion and loyalty may promote an inexperienced family member to role of the new CEO.
Properly preparing a private business for sale can have a meaningful impact on its selling price and terms. With extensive experience in the purchase and sale of private companies, Jim assists sellers in optimizing a company’s core competencies and explaining and supporting it to potential buyers. Jim is also experienced in the sale of portions of a company and its assets, including intangible assets and intellectual property.