Why Family-Owned Businesses Fail: Symptoms, Causes + How You Can Achieve Success
27 March 2018 to 28 March 2018
Level 1, 9 Bowman Street
Event Date: 27th & 28th of March 2018
Event Time: 9am to 1pm both days
Event Location: MVP Financial Office - South Perth
Why Family-Owned Businesses Fail: Symptoms, Causes + How You Can Achieve Success. Presented by Doug Verley, MVP Financial's Small Business Specialist with over 30 years experience working with businesses globally.
After this two-day workshop, you will be able to determine the symptoms and causes of why family-owned businesses go into decline, and so often end in failure, as well as what actions you can take to prevent failure and achieve success in your business.
Is your business showing signs of going into decline? Are you already trying to manage your way out of a crisis? To answer this question adequately requires an ability to measure key financials, leading indicators, initiate cultural change and inspire people to a higher level of performance. But more importantly, it means you must have the skills to identify the signs of decline and its causes so that you can take immediate action. Approximately 50% of all family businesses fail within the first five years of being established. This statistic is of course alarming, particularly if you own and run a business yourself, and especially if you are currently facing challenging trading conditions. Your business might be attached to the family home or other assets, and this inevitably results in considerable family stresses. In this two-day workshop, you will learn about the signs of decline in your business, how to uncover the causes, and what can be done moving forward to change the business's trajectory and bring it into a new and successful phase.
Key benefits and takeaways:
1. Learn how to think strategically about your business;
2. Be able to clearly identify key symptoms, and warning signs that your business is in decline;
3. Be able to identify the causes for your business’ performance;
4. Learn strategies that can be applied to:
- Stop the decline, and turn the business’ performance around;
- Manage and survive the business crisis if that’s where your business is; and
- Achieve improved performance and growth.
5. Free 1-hr follow-on mentoring session with Doug on your personal business circumstances.
Now is a great time to set a clear path forward for your business in 2018. This event is an excellent opportunity to gather information and insights on how to improve your business and turn it into a profitable and successful venture for you and your family for years to come.
There is a limited availability so register today.
What time should I arrive?
Please arrive 15 minutes before the beginning of the workshop.
Where should I park?
MVP Financial has free parking for visitors, up the ramp to the right of the building. If there are no available spots there when you arrive, there is also street parking conveniently situated along Bowman Street.
What do I need to bring?
We will provide you will everything, so just bring yourself!
Doug’s 31 years of work experience spans the banking, investment management, life insurance, mutual fund, accounting, property, mining services, construction, fabrication, engineering, printing, training, fire prevention and numerous other industries, with over 23 years entrenched in all areas of strategy development, planning and implementation, some of these as Group Strategist of a listed life insurance Group. His experience also includes 8 years as an Investment Manager and Company Analyst, the role of Managing Director of the Retail Investments Division of Africa’s largest retail bank, leading a team in excess of 300 people through a 5-year strategic turnaround, the establishment of his own (private) investment funds management company in alliance with one of the world’s largest asset management groups, as well as the establishment of a (private) special-purpose property development company to capitalise and develop a 330-home property development with an estimated end-to-end value of about AU$200m. In recent years, Doug has acted as the compliance officer to a ~$500m ASX 200 listed investment company; has been the Executive Chairman of a prominent mid-tier accounting, tax and financial planning business; has sat, and still sits, as director, advisor and business coach (mentor) to various SMEs and not-for-profit organisations; and most recently established with his business partners, MVP Financial, a 33-year-old professional services group. Even with all of this experience, Doug is the first to say that it hasn’t always been plain-sailing in business and in life, mistakes have been made along the way! But he has used each mistake as a platform for growth and has found that a positive outcome can come out of the worst of times. Today, Doug’s business passion and purpose is to help SME business owner-managers overcome their challenges and difficulties, achieve their business objectives, and essentially get from point A to point B. Doug's areas of experience include the following – Family Business, Finance & Investment, Business Strategy Formulation and Implementation, Business & Life Coaching (Mentoring), Business Advisory, M&A, Equity & Debt Funding, Succession Planning, Business Valuations, Negotiation, Transaction Advice, Strategy and Formulation, Due Diligence Management, Leadership and Management – People, Systems, Processes and Procedures. Doug has completed a Diploma in Business Management, a Bachelor of Commerce majored in Economics and Business Economics, an Honours Bachelor of Commerce – Investment Finance, a Higher Post-Graduate Diploma in Corporate Law, the Graduate Diploma – Australian Institute of Company Directors (GAICD), and an Executive MBA through UWA, graduating with distinction, and receiving the Dux award in Strategic Negotiation. He also completed a Master’s Level thesis for his MBA entitled ‘How To Create A High-Performing Family-Owned Business’. This was later turned into a guide for SME business owner-managers.
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