Strategic Advice Committees

November 2011 by Nexus Wealth Management

WHY (the challenge)

Nexus was approached by a local WA Civil and Structural Consultant company to help provide regular direction in the areas of strategic growth and management. The company’s’ goals and objectives were :-

  1. Ensure that the company is in a strong position within the next 3 years to ensure the successful resignation of the key CEO, through mentoring and developing key identified staff to
  2. become accountable future business leaders. Create an understanding of how to continue to develop the business without over engineering it.
  3. Engage the CEO and draw on his skills as the current business leader to help develop the skills of the key identified staff.
  4. Start having regular efficient planning and strategising meetings and maintaining the key family culture of the company.
  5. Business needs a robust shareholder agreement and documented succession plan to protect the current shareholders in the case of the unforeseen and engage the new shareholders with a roadmap on how to become the next generation for BPA Engineering.
  6. ‘Think locally, Grow Globally’. Look at expanding and gaining a greater share of the WA market

Case StudyHOW (our tactics and strategy)

Nexus offered a strategic management facilitation process whereby we worked with the company owners and the other Key Stakeholders of the business, to table and address ongoing issues affecting the business, its shareholders and other key personnel.

We established a forum for ongoing strategic meetings and provided advice and strategy with key accountability for the outcomes that needed to be achieved. Meeting minutes were documented with all resulting tasks delegated to an appropriate person for completion. We also project managed matters arising from Advice Committee meetings by creation of an action plan and confirmation of implementation.

We supported business development via the provision of consultative services and strategic advice in the six key areas;

  • Financial Management , Cash Flow, Taxation & Entity Structures
  • Risk Management , Protect assets, people and personnel, key person protection
  • Investment Management (Including Self Managed Super Fund), Profiling and Participation Level
  • Wealth Creation , Transfer of Wealth, Strategies & Growth Assets
  • Debt Management , Efficiency & Flexibility
  • Estate Management , Wills, EPOA and Business Succession

Guidance and chairmanship of the process was provided whilst discussions on strategy and considerations in the six key areas for the business, its shareholders and key personnel were facilitated.

WHAT (the outcome)

Today, the Directors have peace of mind in that they have a robust business succession plan and that we continue to help them so that they can face the future with confidence. The company has come away with us understanding what’s important to them, being able to put all of their issues on the table, receive advanced strategy considerations, with an agreement and documented action plan. Key strategic advice was given each step of the way.
Red Ready Responsible

This is based on a real client experience. Names and details have been changed.
This advice may not be suitable to your requirements. Please consult with a financial planner to discuss your requirements

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