Conditioning for Transition In 2018
Family business succession is not a single event, nor does it occur overnight. It requires preparation and conditioning before being attempted. During the months of December and January, Orienteering Succession will present nine key themes from the 2017 series that remind us of the conditioning required.
Four – Contribution And Participation
Family business succession is not a solo journey. It’s not a matter of deciding what you want to do and then letting everyone else know even if you have been the boss for 40 years. It just doesn’t work that way no matter whether you intend to transition, sell, keep or any variation thereof. Succession will require you to engage, seek contribution and participation of family members in ways you may not have yet experienced.
These four short blogs will help you to begin to appreciate the scope of this engagement:
In business succession, it’s not unusual to hear the business owner say, ‘Don’t tell my wife’. This is a huge mistake.
So you’re in business and you are thinking about succession, you look to your children and the one who is most likely to succeed you is your daughter.
The Role Of Spouses In Achieving Harmony
The active involvement of spouses in succession is likely to underpin a lower conflict environment during and after the transition process.
Freedom From The Family Business
Not every child will want to be part of the family business, even if they are the most talented family member. Is supporting the family business compulsory?
Act Now To Ensure A Successful Transition
The Ultimate Guide to Family Business Succession
Digital Edition – Immediate Download Only US$59
All the best in your succession journey
Richard Shrapnel
