Blog
How to know when it is time to get help for your family business governance.
Most family run enterprises hold onto the past to preserve family values and honor the vision of the founders. This does not mean you have to run the business the same way the founding generation did. “We have always done it this way” does not need to be your mantra. Don’t wait until there is conflict to make changes.
Do you really need to start the succession process now?
Do you really need to start the succession process now?
In one word: YES! The earlier you start the discussions, the sooner you get on the same page and the easier the process will be.
Running a family business is complicated on many levels. This is especially true when it comes to preparing for a smooth transition of ownership, leadership, and governance to the next generation.
Navigating the emotional side of succession
Have you had discussions about succession with your family and ended up in a tsunami of emotion? Succession is inevitable, but the success of the plan and ultimately the business, hinders on the transparent conversations and honesty of all members of the family organization. By creating a safe environment for both open discussions, conflict deliberation, and active listening, you can navigate to a sustainable plan for the success of the business and the family.
Family Businesses in Transition
When families are feuding, fairness is always an issue—and usually, it’s about more than just money, it’s often about feelings.
Is Succession a Birthright?
Succession should never be a birthright, even in a family business.
Planning for Succession
It is important for family businesses to plan ahead for business succession. Many family-owned businesses do not have a plan in place, and this can be a source of heated debate and intense family politics when the time arises to select new leadership.