Benchmark International Logo Blog Mergers and Acquisitions

Archives

Benchmark International's Tampa Office Featured in "Workplaces Reimagined"

Benchmark International’s new Tampa headquarters has been spotlighted by The Tampa Bay Business Journal’s 2021 feature called Workplaces Reimagined.

The series showcases how business offices in the Tampa Bay region have changed since the pandemic, focusing on new, innovative spaces in Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk, and Sarasota counties.

Workplaces Reimagined features one office per month in the weekly edition, and our fantastic new Tampa location in the MetWest building was covered by the publication on July 30, 2021. Our 15,000+ square-foot office was recognized for its welcoming atmosphere, sweeping views, unique décor, and ample amenities that enhance the workspace for our team.

It is just another example of how Benchmark International goes above and beyond to make sure our teams have everything they need to continue to be leaders and trailblazers in the community, and in our industry.

READ MORE >>

Kendall Stafford Named Best Mid-Market Financial Services Business Leader 2021

Benchmark International proudly announces that our Managing Partner Kendall Stafford, from our Texas office, has been named Best Mid-Market Financial Services Business Leader 2021 by the 2021 Influential Businesswoman Awards, hosted by Acquisition International.

The winners' selection is made using careful analysis of the panel's final shortlist, as well as anything else that their internal research team learned while doing their online and public due diligence. In addition, the nominee must demonstrate a high level of excellence and work ethic within their chosen field, with their dedication to innovation, commitment, and business development taken into account.

The awards are based solely on merit and not the number of votes that a nominee receives or their financial stature, offering a level playing field for individuals to showcase their talents and achievements.

The Benchmark International team congratulates Kendall on this well-earned commendation, as this isn't the first time she has been recognized as one of the best in the business. "This award confirms everything that we already know about Kendall—that she is a true leader with a unique vision that helps to keep our firm on our trajectory of success and innovation," said Global CEO Gregory Jackson.

READ MORE >>

Tips For Transitioning A Company's Leadership

One of the keys to creating value in lower to middle market mergers and acquisitions is the plan for successfully transitioning the leadership of the company. Maximizing value hinges largely upon a solid succession plan that empowers the new CEO to take the reigns, maintain stability, and lead the business into the future.

Finding the right person to assume leadership is important to the company in several capacities, but there are reasons that it will be personal to you as a business owner who cares greatly about the company you have worked so hard to build. The new CEO should actually care about the company and its employees. They should have a proven track record at getting things accomplished versus a history of being asleep at the wheel. And they should leave you with a high degree of confidence that they are going to do the right thing so that you are not left worrying about the fate of the company and whether you made the right call.

As a founding CEO planning your exit, there are some best practices you can follow in your process to find the right candidate and make a seamless transition in leadership and avoid a succession gone wrong.

Consider Structure and Timing
Initially, there are three important factors to determine the circumstances for the incoming CEO. Are they from inside or outside the company? Will they assume the role immediately or work alongside you for a period of time? And will you maintain a presence in the company as chairman or as an advisor? The answers to these questions will affect the transition process.

Get an Executive Search Expert
Do not underestimate the importance of enlisting the help of a quality external executive search professional. They should have proven experience that gives you the confidence that they will identify a replacement that's in the best interest of the company. They should be able to provide certain insights, find candidates that may not be currently known in the market, and prevent the costs associated with the wrong hire. An executive search firm can also save you time, take the burden off of your HR team, and ensure confidentiality through the process.

 

Ready to explore your exit and growth options?



Consider What They Face
Think about the new CEO's first year and what it may hold from a political and cultural perspective, such as a recession. Could there be problematic circumstances that will make it difficult to make leadership decisions and are they equipped to handle them adeptly based on their experience?

Meet Face-to-Face Onsite
An important part of building trust and bolstering success is having the candidate come to the company's headquarters to meet with you and get an in-person understanding of the business and its culture from your perspective and in your own words.

Foster Relationships
The vetting process can benefit from the candidate's development of relationships with the management team to enable shared experiences. A quality candidate is going to value this effort in establishing trust.

If the new CEO is someone from within the company, think about how they will assume their new role and the responsibilities that come with it. Consider the fact that they are now going to be the leader among their former peers. How will they handle this change and how will it impact their relationships?

Look for the Obvious
You surely want a new CEO with whom you have a good relationship, but the most important relationship will be between them and the management team and the employees. So their personality is going to be a big factor in their ability to succeed. How are they under pressure? What is their vision for the future? Are they comfortable with change? Are they motivated to create growth? Are their values aligned with yours? What about their ego? A candidate may look exceptional on paper and have incredible qualifications, but if he or she does not possess the right people skills for your company's culture, it should be a deal breaker.

Are You Planning Your Exit?
If you think it's time to make a move in the best interest of your company, feel free to reach out to our M&A experts at Benchmark International at any time. Our impressive strategies can be the game-changer you are seeking for your future success.

READ MORE >>
1

    Subscribe to Email Updates

    Recent Posts

    Follow Us on Twitter

    Archive

    see all