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.

Nine – Creating A New Future

A legacy is about the future and not the past. It is about what you are establishing today, which will set the foundation for the future. In family business succession, that is the new leadership team and their ability to carry the business, and the family, forward into the future successfully building upon what has already been established. If you are a member of the current generation, your prime role in succession is to support and prepare the new team and assist them in crafting their vision for the future.

These four short blogs will help you understand some of the issues to be considered in crafting an effective future:

Multiply, Don’t Divide

At times in succession, the outcome is to divide the business up. This thinking can be fatal.

Old Experience, New Knowledge – Blended

In succession, 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.

Can The Children Work Together?

You’re in family business succession mode and the question that continues to roll around in your head is, ‘Will my children be able to work together?’      

Whose Vision Of The Future?

Once you enter the transition journey, you must consider whose vision of the future counts the most, that of the current leadership or the next generation.