Michael Louie | Succession Today

Working with your successor on the succession plan – my weekly perspective

Posted by Michael Louie | Oct 27, 2019 | Family Business Succession Planning Guides and comments

Here are some steps and thoughts on how to approach succession Learn more about the succession process: – read books on the subject, or by take a course. Allow your successor to participate in business decisions: – for business decisions, allow your successor to be involved. With more confidence, you can pass on more responsibility […]

How new shareholders can be introduced as owners – my weekly perspective

Posted by Michael Louie | Oct 20, 2019 | Family Business Succession Planning Guides and comments

Two ways to introduce new shareholders into your company as part of your succession plan: 1. sell them some of your shares 2. freeze your shares and then let the new shareholders subscribe for shares for a nominal value. An estate freeze is more fully described in the blog post below. Estate freeze and introducing […]

Succession should be a pleasurable activity (and not dreaded nor delayed) – my weekly perspective

Posted by Michael Louie | Sep 22, 2019 | Family Business Succession Planning Guides and comments

Succession is a journey that is a positive thing. Remember, you are taking active steps for an orderly transition of your business to the next generation. The majority of private businesses today have not begun to take these steps, for many reasons, lack of time, lack of interest and focus on short term goals. Succession […]

Affluenza, an epidemic? – my weekly perspective

Posted by Michael Louie | Aug 18, 2019 | Family Business Succession Planning Guides and comments

Affluenza in some worlds is running rampant. What is affluenza? It is sadly a malady where as one person described in the baseball context, “someone woke up on third base and concluded that they were a great hitter”. Perhaps, this is a symptom of the well documented statistic of the increasing concentration of wealth in […]

What can happen without a succession plan? – my weekly perspective.

Posted by Michael Louie | Jul 7, 2019 | Family Business Succession Planning Guides and comments

I wanted to relay a story to you of a family that did not have a succession plan. Sad, really. The business was a thriving consumer goods business, run by the founder and owner (generation 1) for about 25 years. It earned her and her family a good living. Unfortunately, she was the heart of […]