The journey into and through a succession plan is fraught with difficulties and challenges. Why? You are dealing with human emotions, hopes and dreams which can be unpredictable. The goal is to handle and work through these challenges. The best way…communication with intention and clarity. Think about what could be the sticking points and what […]
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Has this happened to you before? You are the head of the family enterprise, effectively the CEO, CFO and COO. Family holidays are two weeks away and you have about 4 weeks of work to do before leaving, let alone any new matters that may arise before you depart. You are harried and approach all […]
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If you plan to retain the enterprise within the family, then the transition of the business to the following generation is necessary. This can be a challenging time and some points for consideration are set out below. What is a sibling partnership? – evolution of an enterprise to the following generation – can carry significant […]
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Should your children be employed by your company, no questions asked? Today’s blog will discuss best practices on employing family. They are not dogmatic principles, just guidelines from many years of family enterprises employing family. Some key areas around family employment – quantum of pay – management positions – degree of authority – outside experience […]
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As an advisor to many families, the commencement of a succession plan usually arises because of some outside event that happens. The well planned family does not necessarily wait until this event happens, be it divorce, death or a health issue. Given enough time and planning, a succession plan can be put into place, so […]
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