Don’t Treat Your Successor Like a Clone
There are few greater challenges for a family business owner than choosing his or her successor. Owners bend over backwards to ensure their pick knows the company well, embodies its vision, and has the skill to shepherd it into the next generation. When an owner finds...
Are You and Your Successor on the Same Page?
We’ve all seen something like this play out on TV: Parent succeeds in life (builds a business, wins notoriety, etc.). Parent wants the same for Child. Child doesn’t want Parent’s life. Tension builds. Conflict ensues. Resolution occurs. Credits roll. We’re sorry to...
How Does This End? Closure of a Business
“Do not go gentle into that good night, Old age should burn and rave at close of day; Rage, rage against the dying of the light.” Dylan Thomas’s words represent a clarion call to take life by the reigns and ride off victoriously into the sunset. Unfortunately, many a...
Three Critical Performance Management Tips for a Smooth Succession
It’s August 21, 2008. The setting is Beijing National Stadium—the 2008 Olympics. Nearly 100,000 people cheer as the U.S. Men’s 4 x 100-meter relay team walk out on to the track. Before long, the gun blasts and the runners take off. Everything starts as it should for...
The Unwilling Successor: (Un)selfish and Guilt-free
As they say, “It takes two to tango.” When it comes to choosing someone to take over the family business, those words are exactly right. In our previous post, we spoke about the importance of owner’s decision. Nothing hurts a transition more than an owner and a...ABOUT US
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