Succession of a business can take a long time, sometimes 5-20 years, possibly a lifetime. I am in the midst of succession planning discussions with one family that is now into its 3rd year, having made significant headway on communications and setting ground rules. Another family has been working on succession for 7 years and […]
Wow, what an uplifting outcome. I just came out of a meeting this week with a family who are in the process of successfully transitioning from G1 to G2 (generation 1 to generation 2). This successful endeavour has been a 3 year journey culminating in: – a plan of reorganization to allow the following generation’s […]
Today, I am writing about you and your family interactions, mostly as it relates to the family business. Risk taking in your family communication is not easy to do. Having difficult conversations can let you and the business thrive. Not having difficult conversations could stifle and hold back the business.
A great coach assesses the team and is granted the decisions on who is to play, when and with which other team mates . Balancing a team is all about: WILL – SKILL – TEAM.
Do you have any idea of how much of your family’s worth is invested in your family business? What about other assets which have a meaningful value? Here in Vancouver (Canada), I have seen the net worth of families grow exponentially because of our long and significant increase in real estate values. This increase has […]
