‎I am often approached to help family enterprises, frequently in times of some crisis. Why? The family is seeking solutions to this crisis hoping it can be solved quickly. I often cannot offer answers and will ask more questions, especially when I do not personally know the family that well

Succession‎ takes time and relationships take much time to be established and improve. I have worked with families where the succession plan just begins to make some progress after a year of meetings and discussions. So I usually do not have the answers right away. These discussions if conducted positively and carefully can go a long ways to improving the family relationships that provides the foundation of your succession plan.

What to do? Start with your succession plan well before you think that you really need to start it. How to start? Begin some conversations with your life partner and family, especially those who will be running the business and will become owners‎ at some point in the future.

From exp‎erience a soundly planned, documented and executed succession plan can take more than 5 years. This time often results because a family already is spending more than their full time in running the business.

Think about how far you have progressed with your succession plan and take action to make further advances. Good luck.

Learn, think, apply!