Helping family business owners pass on continued to success to others is both enjoyable and challenging. Family relationships season as business grow and as the current generation of ownership begins to gain clarity for the long-term success of the business.
Many items are common and predictable. Family business owners age, they rely on future leadership and performers to grow their business. Key employees develop, and they desire more for their family and financial freedom. These predictable items are all unique and require a thoughtful process that can provide families the confidence to make proactive decisions.
Each family succession plan requires attention to business issues, family issues, and eventually, ownership issues. Proactive communication to manage risk while business owners prepare for growth will require proactive communications to help recruit and retain talent.
The experience and planning process will help business owners gain clarity of their goals and their realities that will allow them to build a plan with proactive communication. The quality of the planning is critical, and so is the timing of the communications of the plan. Every plan requires thoughtful timing and sequencing of strategic initiatives to assure that both the family relationships and the business are successful. We appreciate both the challenge and the opportunity to assist family business owners.