Very successful family businesses don't always transfer to the next generation with the same degree of success experienced by the founder. Often, changing market conditions, shifting customer preferences and the rapid evolution of technology create an extremely different company transferred to the next generation than the company envisioned by the founder.
SEWN can assist with these generational changes, recreating a successful business while providing layoff aversion strategies.
Recently, a precision machining business requested SEWN's assistance for an outsider's perspective on redefining the company's path into the next generation. After struggling with a long string of negative profit numbers, a large back-log of past-due shipments and vendors demanding COD payments, the time was ripe for some significant changes.
SEWN performed a complete financial analysis, resulting in budget changes, inventory adjustments and debt restructuring. SEWN's operational analysis revealed opportunities in product flow improvements and workforce utilization. Most significantly, SEWN worked with the next generation leader to create a revitalized business that more accurately reflected his direction and purpose.