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We spoke with participants at the BEREIT! Succession Academy in Munich and summarized valuable insights from three experienced professionals. Angela Barzen (entrepreneur, business coach), Thomas Doppelberger (CEO of Fraunhofer Ventures), and Andreas Berninger (CEO of Traut Bürokommunikation) shared valuable insights into designing sustainable corporate strategies, moderated by Alexander Reichel (Oakstreet GmbH).
Key Topics—Innovation, Employee Focus, and Digitalization
Drawing on her personal experience as an entrepreneur, Angela Barzen knows how crucial it is to view employees as a central element of a company’s success: “An employee is more than just a cost center with two ears,” she says, while also emphasizing the importance of employee retention and development. Especially when she later decided to sell her company to a larger competitor, having a motivated and qualified core team of employees proved to be crucial.
Andreas Berninger underscores the importance of involving employees in transformation processes and emphasizes the need for transparent communication. Drawing on his experience as the buyer of a medium-sized company, he discusses the key challenge in acquiring and restructuring a business: “The most important thing for us was to get the employees on board.”
Thomas Doppelberger emphasizes the importance of innovation and technology transfer for small and medium-sized enterprises. He highlights the role of Fraunhofer Ventures in supporting technology-oriented startups and, in particular, small and medium-sized enterprises. Doppelberger stresses that innovation involves not only the development of new products but also the advancement of existing business models.
Action Plan 2024 for Entrepreneurs?
Based on the experiences of the three panelists, it is worth considering the following recommendations for entrepreneurs:
Employee-Centric Approach: Make sure to view your employees as your company’s most valuable asset and involve them in decision-making processes.
Prioritize innovation: Invest in research and development to create new products or services. Collaborations with institutions like Fraunhofer can provide new and decisive momentum.
Leveraging external expertise: Seek advice from other entrepreneurs and experts to gain new perspectives and specialized knowledge.
Planning for Business Succession: Start planning for succession early to ensure continuity and stability. Include not only the issue of a change in ownership but also solutions for the future leadership team.
Change as an Opportunity for Growth: View change as an opportunity for improvement rather than a threat.
“Think about calling it quits when things are at their best,” was Angela Barzen’s closing plea, “when you’re at the peak of your entrepreneurial journey.” Ultimately, the three panelists were in agreement. It is the combination of these factors that determines a company’s long-term success and value:
• The focus should be on the company’s adaptability and growth, and the importance of employees cannot be overstated.
• Innovation, sustainability, and digitalization are key elements for remaining competitive.
• A transparent, employee-oriented approach will not only strengthen the corporate culture but also lead to higher employee retention and satisfaction.
If you’d like to follow the entire discussion live: youtu.be/dDiTe3bIaVc
