Family Business Blog
When it comes to leadership succession, one of the comments we often hear from current leaders is 'my son or daughter is pretty good, but they're not quite ready'. When we start talking about what it will take to make them 'ready', we often end up in a long conversation that in many instances leads us nowhere. Potential successors often get frustrated and come to the conclusion that whatever hoops they have to jump through, the transition will never occur. Read more...
Where will your business be in 5-10 years, or when you decide its time for you to do something else? Exiting the business is not a question of if, but when. Planning for the eventuality helps provide you with some say in how the future unfolds.
Business owner-managers considering exiting their business have two options: transfer (continuity of the business) or termination (cessation of the business).
If you choose to transfer the business, you can - Read more...
Business owner-managers considering exiting their business have two options: transfer (continuity of the business) or termination (cessation of the business).
If you choose to transfer the business, you can - Read more...
Often one of the concerns that families raise with us is the issue of being fair to all their children. The issue generally arises when discussing the preparation of wills or the transfer of ownership of the family business. Does this necessarily mean an equal division of the family assets? Read more...
I recently sat down with a potential client who presented me with his plan for the next 10 generations! Wow what an inspiration. Read more...
The following question was posed on the Mindshop Discussion board by a concerned business consultant. For what it's worth, here's the response I offered. Read more...
Brad, the managing director of a manufacturing business, died suddenly and unexpectedly at the age of 58. Being an entrepreneur, (and therefore immortal), no management or ownership succession plan had been developed. Read more...
Having worked with family owned and managed businesses throughout my working life; probably the one report that inspired me to focus exclusively in this space was the 1997 Australian Family and Private Business Survey. Read more...
We were recently asked to contribute to Family Business Magazines ‘Brains Trust’ column. There’s only so much that can be said in 150 words, so here is a more comprehensive response.
The question:I’m getting ready to step back from running the business and while my two kids are keen to take the top job I just don’t think they’re up to it – not yet anyway. I think an outside CEO would be best but how do I tell my kids and get them ready for my replacement? Read more...
The question:I’m getting ready to step back from running the business and while my two kids are keen to take the top job I just don’t think they’re up to it – not yet anyway. I think an outside CEO would be best but how do I tell my kids and get them ready for my replacement? Read more...
This article, written by Harry Kras, was originally published in the Family Business Magazine November 2013. Read more...
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