No matter how strong family ties maybe, in family business succession there is always the risk that family members will become envious of the position others have achieved, and envy and greed will become the monster devouring family harmony. …
The Empty Treasure Chest #succession
One of the most common barriers to effective succession is simply a lack of money. The family business does not have the financial capacity to support all the generations of a growing family. Not all businesses will yield the wealth…
The Lost Ship – Future Leadership Has Not Been Built #succession
A business without an effective leadership team is like a lost ship sailing aimlessly with no destination in mind. But many businesses transition from one generation to another without investing adequately in its future leadership. Active Knowledge Question: Where…
Fiery Relationships and Conflict #succession
Family harmony has not been achieved and conflict has erupted within the family. The likelihood of wealth compounding across generations has now significantly reduced. Efforts should be directed to restoring family harmony before moving forward with your succession plans. Active Knowledge…
Beware Of The Bottomless Pit #succession
The separation between family and business is weak, governance structures have not been established and there is a danger of the business and family falling into the bottomless pit. Active Knowledge Question: Do you seek to separate out family matters from…
