Back to Newsroom
Back to Newsroom

Double Iron Consulting Offers Tips For Succession Planning

Wednesday, November 23, 2022 11:00 AM

ATLANTA, GA / ACCESSWIRE / November 23, 2022 / Most successful businesses started as family businesses and only changed much later. This is because the family forms an essential support system for entrepreneurs.

Double Iron Consulting, Wednesday, November 23, 2022, Press release picture

The family suffers when entrepreneurs have to stay awake long hours into the night to find solutions to business challenges.

The family also invests lifelong savings in business ideas without collateral or assurances. When the business finally takes off, most entrepreneurs want its ownership and management to remain within the family.

Since succession is usually a thorny issue, hiring a professional business manager who is not a family member may have many benefits. Double Iron Consulting specializes in succession planning and can help family businesses overcome this and other challenges.

The Importance of Succession Planning

Nobody can work forever. Retirement, health issues, and death are unavoidable. After spending decades building a business, entrepreneurs must consider the company's future. Who is going to lead the company to greater heights?

Will the company survive multiple generations? These are some of the questions that every successful business owner must consider. After identifying potential heirs, what should follow is grooming and coaching.

The lack of a succession plan is to blame for the failure of thousands of successful family businesses. Many thriving family businesses have been sold to third parties because family members needed to agree on who should run the company.

William Smith and Double Iron Consulting help business owners with succession planning and leadership development. They can help streamline operations to improve the company's chances of success.

About Double Iron Consulting

William's consulting firm is a boutique-style business consultancy firm focusing on family businesses. William Smith, the founder of Double Iron Consulting, has decades of experience working for a family business in various capacities.

He understands the challenges that family businesses usually face, particularly regarding succession. After serving as the president and CEO of Royal Cup Coffee for seven years,

William Smith decided to transition the family business to the next phase, where non-family leadership is engaged in running the business.

Before stepping aside, he worked with the board to promote from within the professional executive leadership team instead of looking for a family member to continue running the company.

Previously, the company was managed and led by Wiliam's father and uncle; Bill worked to find a suitable non-family leader to head the company.

After transitioning out of his executive role at Royal Cup Coffee, Bill Smith established a consulting firm to give back to the community.

He wanted to use his years of experience to help family businesses overcome daily challenges.

What Makes Double Iron Consulting Stand Out?

Many business consultants have experience working within public companies. They often have strong resumes with MBA degrees and many academic qualifications. However, do they have an understanding of what it takes to run a thriving, successful family business?

Double Iron Consulting stands out from the crowd.

Bill Smith, the founder of the company, has decades of experience working for and running a family business. He started as a teenager working part-time while still in high school.

He worked full-time after graduating from college. When he rejoined the family business, he took on both frontline and mid-level management roles and was then promoted to senior management after earning his MBA from Emory University's Goizueta Business School.

William Smith served as the CEO and president of Royal Cup Coffee, his family's business, for seven years.

This means that Double Iron Consulting is not your average business consultancy firm. It is a boutique-style family business consulting firm, giving business owners the one-on-one consulting services they deserve.

[email protected]

SOURCE: Double Iron Consulting

Company Update
Back to newsroom
Back to Newsroom