Do you know how many companies in Hong Kong were accounted for by family businesses?
The answer is 60% according to the PwC Family Business Survey in 2016. The city’s top 15 family-controlled assets are worth 84% of gross domestic product.
Family business plays a very crucial role in the development of the local economy. Their sustainability is, therefore, one of the most important aspects of any commercial activity.
It’s not just a matter of keeping the lights on — it is about maintaining the company’s viability and ensuring that it can continue providing job security for employees and making a profit.
In view of this, we are going to introduce an upcoming Zoom event to you for all family businesses:
Part I. Family Business Health Check
Business succession is another important issue to keep in mind since it is likely that at some point one of them will have to step away from the company or pass it down to someone else. They should have a plan for what happens in this situation so that they can ensure a smooth transition and protect the future of their business.
There are three options for legacy:
1) Internal transmission – Family members
2) External – Professional Executives
3) For Sale – Sale to a third party
What are the pros and cons of these options and which is the best way to pass on your current business?
We use qualitative and quantitative analysis to help you to understand how well your company is performing, both now and in the future. We also advise you on how to improve performance if necessary and help to develop the best succession plan for you.
We believe in the power of business sustainability. That is why we focus on helping you to create a plan for your future, so you can pass on your business to the next generation — or sell if it’s time to move on.
We will consider a different model of a legacy like:
- The current state of your company
- The needs of your family and business partners
- The long-term viability of your business model
Many businesses do not pay attention to sustainable growth. When time is good, everything looks great; when bad time comes we see many leaks and problems in businesses.
Our Family Business Health Check helps business owners identify the root cause of their current issues and generate possible solutions to make the families of the business owners have healthy sustainable growth in the future.
Who is the speaker of the Family Business Health Check?
Mr. Tommy Chen
Family Business Consultant
Who need to join this event?
All family business owners from small to medium size.
3 takeaways of the event:
- Learn how to apply Family Business Health Check principles to their own business situations
- Be able to identify the most pressing issues root causes in the family business
- Be able to identify possible way out to the situations
Part II. Sales Transformation
Many family businesses are facing shrinking markets and declining sales as a result of the ongoing two-year epidemic. Traditional business practices are no longer appropriate in the post-epidemic era, and they need to transform or revamp their sales teams in order to cope with the changes in the new economy.
Sales transformation is the process of building on or updating the sales operations of a business. Being the head of a Sales Team, his role is to achieve specific goals and objectives that are significantly impacted by the sales process, like increasing revenue.
A transformation strategy of a sales team is led and created by a sales manager. He works with his sales team members to ensure the latter have the information and tools they need to succeed and execute a successful sales transformation that meets intended end goals.
Let’s imagine this scenario: your business may have an overall goal of closing more deals and acquiring more customers per month than before. This is the end goal that would require you to transform your sales process.
In the meantime, the sales leader has to work with his sales teams to revamp their current operations and give them the means to meet these overall goals. In this scenario, the transformation aspect is how his sales processes will change to increase customer acquisition.
How To Transform Your Sales Process? There are 6 steps to go through:
- Deliver the need for change to sales team members
- Identify areas for change
- Outline the transformation process with objectives and key results
- Align sales and marketing teams
- Track progress over time
- Measuring the success
Successful sales transformation requires sales leaders to step up and devise a strategy that will help their entire team contribute to overall business success.
Whether it is increasing business revenue or growing your customer base, taking the time to inform your team members of the need for change, designing strategic plans, and giving them the tools they need to succeed will help you transform your sales process into a strategy that helps your business meet their desired growth metrics.
Who is the speaker of the Sales Transformation?
Mr. David Yeh Junior
Master Coach and Head of Sales Team of Destiny Research Institute, Holder of the Distinguished Salesperson Award from Hong Kong Management Association (HKMA) in 2021.
Who needs to join this event?
It is targeted towards all business owners and sales heads.
3 takeaways from the event:
- Be able to execute a sales transformation in your sales team
- Understand the secrets of sales mastery insights as a peep show
- Learn some negotiation skills for sales
Date and time:
Oct 27, 2022 @3:00 pm- 4:00 pm
Format:
Free and by Zoom
Zoom details:
Meeting link:
https://us06web.zoom.us/j/5407535955?pwd=dDhOa0R2aUJteVlSRUZRSnQ3Q25Kdz09
Meeting ID: 540 753 5955
Meeting password: 12345
Participants can log in starting at 2:45 pm.