In the heart of Hawai'i's business landscape, where family-owned enterprises are the backbone of the economy, navigating the complexities of succession and ownership can be a daunting task. Recognizing this critical need, Mike Miyahira launched Business Strategies after a 15-year tenure at Bank of Hawaiʻi. His consultancy is dedicated to guiding family-owned businesses through their most challenging transitions.
Miyahira's expertise focuses on addressing key issues that often arise in family businesses, including the often complex process of succession planning and the sometimes sensitive process of determining ownership stakes. He recognizes the unique challenges faced by these businesses, which contribute significantly to the state's economic stability. His approach is rooted in a deep understanding of the cultural nuances and familial dynamics prevalent in Hawai'i.
One of the primary services offered by Business Strategies is succession planning. This involves preparing the next generation for leadership roles and ensuring a smooth transfer of authority. This step is vital, as a recent article in Hawaii Business Magazine highlights the importance of proactive planning to avoid potential pitfalls. Miyahira helps families develop strategies that consider the specific needs and goals of their business, allowing them to maintain their legacy while fostering a sense of continuity.
Beyond succession, Miyahira assists families with navigating the often-difficult decisions surrounding ownership. These could involve buyouts, sales to external parties, or mergers. As a report from the Family Business Center of Hawai'i emphasizes, these decisions can have a long-lasting impact on both the business and the family involved. Miyahira's consultancy provides an objective perspective and tailored guidance to help families make informed choices that align with their overall objectives.
Additionally, Miyahira's consultation can help businesses with governance structures and conflict resolution. Family businesses have a lot of pressure from Professor John Butler, of the Family Business Center of Hawaii due to the need for regular family meetings to address issues before they become too deep. With a focus on these areas, Miyahira helps ensure the success and longevity of family-owned enterprises, solidifying their place in the vibrant economy of Hawai'i.
