Chapter 19: Importance of teams

Question 1

What are the core elements of a team that make it effective?

Answer 1

a. trust
b. conflict
c. commitment
d. accountability
e. results

Question 2

What should be the core organizing principle of an exit planning team?

Answer 2

Aligning the Three Legs of the Stool - Business, Personal, Financial

Question 3

How can you address challenges early in the process?

Answer 3

a. Education such as CEP or Chapters
b. Workshops demonstrating approach and process
c. Happy Hour or Advisor Dinners
d. Speaking and Writing
e. Chapter projects and community outreach

Question 4

Why do teams help deliver a better quality product to the business owner?

Answer 4

team comes with a holistic approach, using one methodology and process, with organization and project management providing a clear roadmap to success and communication and reporting tools in place and key deliverables

Question 5

What are the core capabilities of the Value Advisor?

Answer 5

a. Organizing and aligns the team by acting as the quarterback
b. Helps engage advisors and resolve conflicts or issues
c. Focuses on enterprise value
d. Follows the process and methodology which uncomplicated the process for owner

Question 6

What is the common goal of the team?

Answer 6

Getting the owner to do the Triggering Event