Transitioning of a family business across generations should really only be focused on seeding and nurturing the entrepreneurial spirit in that next generation. Succession is honestly not about transferring the physical business that exists today but about growing the ability to ensure…
“How Do I Tell Them?” #succession
There may come a time at which all must be laid bare; the good, the bad and the ugly. Do it openly, honestly and begin to share the burden. You won’t be surprised to hear me say, that come succession…
The Family Meeting #succession
If you are thinking about succession then start communicating and sharing your thoughts. Start with a family meeting to build understanding, awareness and a shared commitment. You may not even know if you will sell, transition the business to a…
Awarding Equity To Management #succession
You’ve been in business a long time now and there are some key people in the business who have helped you grow it to where it is today. It’s decided that you are going to transition the business to the children. But…
“Can’t They See They’re Not Well?” #succession
“I can’t talk to him anymore, he won’t listen, he won’t back away from the business and it’s going to kill him one day soon. What do I do?” It may be a ‘he’ who won’t listen but it may certainly…
