Michael Louie | Succession Today

Plan B?

Posted by Michael Louie | May 3, 2012 | Family Business Succession Planning Guides and comments

You have run your business and weathered many successes and challenges. Today, it is the challenges of successions about which we will be speaking. Many business people have put their hopes into the plan that the children of the family will take over the business, both its operations and ownership. This may not be a […]

Management buy in – some alternatives

Posted by Michael Louie | Feb 6, 2012 | Family Business Succession Planning Guides and comments

I spoke previously about management becoming owners of the company and why you may do this. There are alternate means of allowing management to either directly be owners of your company or become equity equivalent owners in your company. The first and simplest form of ownership is to allow your managers to buy shares. They […]

What is succession of a business?

Posted by Michael Louie | Jan 16, 2012 | Family Business Succession Planning Guides and comments

I was asked by a successful business owner about what is succession and what does it entail? He had heard from others plenty about the subject but to him, the reasons were quite fuzzy. For him, however, he began to spend more time contemplating succession because he had a 10 year horizon until he wanted […]

W1 – who will be key players

Posted by Michael Louie | Nov 13, 2011 | Family Business Succession Planning Guides and comments

So, who will figure prominently in your succession plan. For fear of being repetitive on prior blog posts, there are two components: ownership and management of the family business. We will discuss both in a little detail. Ownership. This would generally be based on family and possibly key employees who have or will become shareholders […]

W3 – where does succession take place?

Posted by Michael Louie | Oct 28, 2011 | Family Business Succession Planning Guides and comments

Meetings about succession require all participants to be fully engaged in the process. All of them are integral to the discussion and ultimately the should bear some responsibility for the decisions that will be made. Succession discussions can be sensitive and may require some facilitation so that everyone has a voice and is heard. Do […]