Honouring the efforts of the past requires a stepping forward into the future. But often the past and future simply can’t see eye to eye. The legacy of any business lies in its future success. The greatest legacy is to…
Don’t Worry, It’s All Agreed. #succession
‘Don’t worry, it’s all agreed.’ These words may bring a shudder to you when you hear them because you know it’s probably nowhere near ‘all agreed’. Family businesses are personal and are often built on lifelong relationships. Relationships with customers,…
Compounding of Wealth #succession
Often there is confusion about what family business succession is really all about, but honestly, there is only one answer. You may think, for example, ‘I haven’t really decided yet what to do with the business. I don’t think the…
Multiply, Don’t Divide #succession
At times in succession, the outcome is to divide the business up. This thinking can be fatal. The scenario (as you may see it): “The business has been around a long time and we have always kept everything in one big…
Cleaning House #succession
As you head into transition territory one of the tasks you must undertake, as a priority, is cleaning house. Those of us who have been in business for more than a few years know that you accumulate stuff, just like…
