In an earlier blog entry, I suggested that you have some conversations with stakeholders about the business, where it stood and what your plans were. Before you commence that conversation, ask yourself, “Is my business strong?” What if something happens to you? Will the business be able to function? Will there be certain key aspects […]
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Does a strongly opinionated, mercurial leader create an environment appropriate for succession? What style is “best” to facilitate succession? The recently decided American election race presents (Jan 6 just around the corner) a great opportunity to compare the success of markedly different styles in a very short period of time, like a social experiment. […]
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Have you sufficient financial resources for your family? When is enough enough? This is a question often asked by entrepreneurs and business owners. For many business owners, they have a belief system which includes giving back to the community…philanthropy. Franco Lombardo, author of “Life after Wealth®: When is Enough”, wrote in an easy to read […]
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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 […]
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Are you taking the time to think not just about how to run your business, profitably? Are you also thinking about the deeper and more difficult questions around succession? Many questions…we need to seek some answers to them. 1. Are your children the natural succession candidates? 2. What if you have more than 1 child […]
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