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.
Eight – Putting The Past In Order
If you have been in business for a few decades then there is likely to be a lot of work to be completed in preparing for transition. It is a task to start very early to allow yourself the time to progressively clean up and sort out all the things which have accumulated over the years. And It is far more effective for you to work with your team to tidy up rather than leaving it to the incoming team.
These four short blogs will help you get a handle on the scope of tasks to be included in cleaning up your house before transition:
As you head into transition territory one of the tasks you must undertake, as a priority, is cleaning house.
In succession, there will 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.
In family business succession, the words ‘Don’t worry, it’s all agreed’ should bring a shudder to you.
‘I’ve been in business now for 40 years and I still have many of the people who started with me at my side. I feel obligated to them.’
Act Now To Ensure A Successful Transition
The Ultimate Guide to Family Business Succession
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All the best in your succession journey
Richard Shrapnel
