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Category Archives: Succession Planning
Two Interesting Family Business Lessons from the Holy Land…
Did you know that it is a Muslim family that holds the key to one of the most sacred churches in Christianity? Further, did you know that they have been fulfilling the obligation of opening and closing this church … Continue reading
Posted in Culture, Family Business Values, Succession Planning
Tagged Christianity, Easter, Jerusalem, legacy, Muslim, Nuseibeh, stewardship
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“Someday This Will Be Yours”
The ability to carry on a successful intergenerational transfer of ownership and leadership is one of the most important and difficult issues facing a family business. One metaphor for succession is the firefly. They flicker brightly for a period of … Continue reading
Posted in Succession Planning
Tagged financial, firefly, kliska, management, ownership
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Family Owners and/or Managers?
by John L. Ward 52% say that the next generation will be owners and managers 24% say next generation family will own but not manage 7% are currently owned by family but not managed by family A recent survey[1] by … Continue reading
Posted in Next Generation Development, Succession Planning
Tagged next generation, non-managing, PwC, Values, vision, Ward
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Can I leave it to the children?
I often get asked this question by business owners who wonder if they should put the burden of owning and running a family business on the shoulders of their children. They remember the sleepless nights, tough times and challenges they … Continue reading
Lessons from the U.S. Election
Last week’s Presidential election in the United States was a great lesson on the need to have clarity about how decisions are made and what the framework is for implementing those decisions. Many family businesses have created their own guidelines … Continue reading
Posted in Family Business Policies, Succession Planning
Tagged Eckrich, Election, transition
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Why Do We Wait Until The Last Minute?
“We have a looming transition with no real plan. Not sure why, but my father has just now decided he would like to get out of the day-to-day operations and sell the business to my brother and me before the … Continue reading
Posted in Succession Planning
Tagged leadership, Letting Go, planning, schmieder, Succession
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Setting a Date
In reflecting further about this month’s Family Business Advisor article entitled, “Must the Prince Kill the King?” by Albert Jan Thomassen, I am struck by how easy it sounds to have the senior leader “set a date” for the final … Continue reading
Posted in Family Leadership, Strategic Planning, Succession Planning
Tagged Eckrich, Letting Go, Thomassen, transition
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Journey to the Future: What is Your Collective Vision for Leadership Transition?
For the next 19 years, 10,000 American baby boomers will turn 65 every day. Many of them are family business leaders who are thinking about transitioning leadership to the next generation. While it is great to start considering the transition … Continue reading
Successor Legitimacy
by John L. Ward A Financial Times article[*] about the sustainability of China’s leadership offers some ideas for family business successors. The article outlines several forms of legitimacy that are more or less sustainable. First is procedural legitimacy. The people … Continue reading
Succession during recession?
by Albert Jan Thomassen Recently a family business owner asked me if he should step down now. “Why do you ask me this”, I replied. He told me he had planned his succession very carefully and was supposed to hand … Continue reading
