ABSTRACT
This chapter shows that partners keep nominating different firms for merger talks. It needs to convince managers and their partners that it is a worthwhile investment of one’s time to tackle–head on–the core issues at the heart of one’s partnership. The chapter provides a pragmatic and pain-free step-by-step guide on how to produce a workable business plan that suits one and one’s partners. The real value in the business planning process is that it helps everyone gain a better understanding of the overall shape, strengths and weaknesses of the business and its market, the challenges ahead, the strategic alternatives and the work that must be done to achieve the agreed goals. Together with assistance from committee members, the relevant directors then held meetings with their teams to go through the statement with them to explain the thinking behind each item and seek to obtain "buy in".
