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Atlanta Succession Planning

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Atlanta, Georgia

       850.294.3042 (T)
       407.578.4480 (F)

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T. Jeffrey Faulkner, M.S

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Jeff’s private practice in the counseling industry allowed him to gain specialized experience in working with families in crisis and achieving mutually satisfactory resolution of significant family dynamic issues.

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David Weaver, CEC

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David's career spans over 30 years as a successful business executive, where he specialized in the launch and growth of independent startups and new business units across multiple industries. In these roles, he worked with CEOs and executive management to achieve aggressive growth goals and prepare their organizations for eventual sale.

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Successor Development: 5 Key Indicators for Evaluating a Successor

Once there are available successor candidates, business owners should take a less instinctive approach to selecting a successor from the candidates by evaluating some key traits. We refer to these traits as the 5 Cs: Character, Confidence, Capability, Competence, and Community.

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Successor Development: There Has to Be One Available

Business owners frequently select their successors with an intuitive approach, or based on experience-informed “gut” feel. Most of the time they’re pretty good at it, but when it comes to evaluating a successor for a family business, the family relationship dynamic inevitably clouds a business owners evaluation. There are emotional entanglements that get in the way of their well-grounded intuition. So to help business owners be less instinctive and more intentional and consciously competent in selecting a successor, there are some key indicators to look for in identifying a successor for your business.

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Wipe Out Enablement Attitudes - Rights Versus Responsibilities

No matter where you stand on the immigration law, one thing is painstakingly clear. Our country is obsessed with protecting everyone’s rights with little to no concern for their responsibilities. Somehow we seem to suffer from affluence guilt that leads us to feel it is our responsibility to take care of everyone on the planet, and perhaps more accurately, that everyone on the planet has a right to be cared for by the U.S. 

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How to Break the Power of Addiction

In my last post, I discussed the cycle of addiction, which is a common issue I see in working with families and businesses. As a reminder, the cycle consists of several parts: some negative emotion, triggers, rituals, acting out, and back to the negative emotion.

To start breaking the power of addiction you must identify the various aspects of your addictive behavior as it relates to the cycle above. A good way to approach this is to start with the seemingly trite statement I made in my last post that “the only way to break the power of the addiction is to stop engaging in the behavior.”

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Understanding the Cycle of Addiction

Do you have any bad habits? If your immediate response was no, then you might consider that you have a bad habit of lying. The truth is we all have bad habits and sometimes those habits can turn into addictions. In my work with family businesses I frequently interact with people who are addicted to something. Sometimes it’s a functional addiction and sometimes destructive.

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Successor Development - How Good is Good Enough?

I was recently in a meeting with a son of a business owner, who was the identified 3rd generation successor leader to his family’s business. We were talking about some communication challenges he was having with his dad. His dad is a larger than life kind of guy, one whose shoes are hard to fill.  So, I asked, “What seems to be causing the difficulties?”

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Why You Should Stay Engaged, Even After You Exited the Business

I was recently in a meeting with a father and his three sons working on developing some reasonable expectations between them. Dad was in the process of transferring stock in the family business to his boys. Being that partners are much different than father/son or boss/employee, they needed to clearly define their expectations.  I started out with what I thought was a relatively benign question of the eldest son – “What do you like most about working with your dad?”  His answer led us down a path of discussion that I could not have orchestrated if I were a magician.

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Dream for Success - How to Turn Your Dreams Into Successes

In my last post, I told you that I have a unique advantage of working with the leaders of America. I also have the unique opportunity of working with their successors. One of the hardest things to do in this environment is convey the years of experience and the intuitive business sense of a current leader to the next generation.  So, I try to learn from these leaders to determine what it is that they have that can help the younger generation bridge the gap of inexperience. The first essential for success that I shared in the first post is that they take personal responsibility.

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Personal Responsiblitily - How Successful People Leverage This Characteristic

Conveying the seemingly intuitive business sense that comes from years of experience is a leadership trait that cannot be had by any other method than experience.  Closely related to the gaining of experience is that business leaders have learned to take initiative.  Without initiative they would not have learned some tough lessons along the way that, in essence, is what experience is all about.

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Essentials for Success: Anticipation

In my last post, I told you that I have a unique advantage of working with the leaders of America. I also have the unique opportunity of working with their successors. One of the hardest things to do in this environment is convey the years of experience and the intuitive business sense of a current leader to the next generation.  So, I try to learn from these leaders to determine what it is that they have that can help the younger generation bridge the gap of inexperience. The first essential for success that I shared in the first post is that they take personal responsibility.

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1395 Hits

Why Family Governance Should Not be Overlooked

In my first post on this issue I said that the reason for exploring family dynamics is precisely because family issues compel business decisions. I just got off an hour long phone conversation with a client regarding generational attitude differences between her generation and the 3rd generation family member employees. The mental health issue that has brought this to the forefront is that one of the G3 family members just admitted himself, at the urging of other family members, into a drug rehab facility.

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Dig Deep Into Family Dynamics - There May Be A Mental Health Issue At Play

Not too long ago a client asked, after our initial review of the family succession planning environment, where his family stood on the weirdness scale. Well, weirdness is not really the issue, but optimization of human functioning and relationships is of paramount importance. The reason I tell clients that we pry into family dynamics is precisely because family issues compel business decisions. Little did I know 8 years ago when I entered succession planning for family owned businesses as a career how helpful my background as a professional counselor would be. In my next three posts I’ll describe several scenarios and the impact on the business planning environment.

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In-Laws - You Can be a Positive or Negative Force, Your Choice!

The second step to navigating the role of an in-law in the family business environment is to seek to understand the family’s unwritten laws -  if you don’t know them, you will not know whether you are about to break them.  Knowing the laws allows you to discover how to best live within them, and potentially even have a positive influence on those laws over time. However, you must understand as an in-law that no one has asked you to come in and be the rescuer and change all of the dysfunctional dynamics that occur in your spouse’s family.

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Likability or Accountability - Do You Have the Right People Driving Your Organization?

In my last post, "Effective Leadership - Are Your People Loyal to You or Your Vision," I discussed the idea that there are several businesses with which I’m currently working that are performing and several that are not. The difference between the two is that they either have a culture of likability or a culture of accountability. The immediate differences between the two suggested differences in leadership, people, and focus on results.

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Effective Leadership - Are Your People Loyal To You Or Your Vision?

I have worked with three business leaders recently who are struggling with performance of their business during this economic downturn. I have also worked with several who are having record years during the same economic downturn. All of these businesses have a few things in common – they are all in the same industry and have similar business models. So, why are some performing and some not performing?

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How to Build Management Team Synergy Focused on a Common Vision

My wife and I recently celebrated 15 years of marital bliss. A part of the festivities of celebrating this mile marker were spent watching the Atlanta Symphony Orchestra, an event that always reminds me of how much I love music – all kinds of music, from classical to punk rock. I even have a special place in my heart for country music. As most extracurricular activities become an introspective undertaking for me, this experience watching the ASO was no different. Music really is amazing because there are only seven basic notes and all of the amazing variety of music falls within that seven-note range. There is no music that falls outside that range. It is truly amazing.

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How to Build High Performing Teams With Well-Defined Roles and Responsiblities

 In my last post, A Common Vision, I mentioned that I recently experienced the joy of watching the Atlanta Symphony Orchestra perform. I took away from that event several powerful illustrations of high performance teams. Apart from having a common vision and subordinating individual talents to those of the team for the purpose of exceptional performance, there are several other things I observed. High performance teams are characterized by having crystal clear roles and responsibilities. The orchestra was a great illustration of this trait.

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Family Dynamics and Business Performance - How Closely Are They Related?

In my previous two posts, "How to Find Balance Between Family and Business"  and "How to Achieve Balance Between the Family and the Business," I discussed two of the three steps great and enduring families engage in:

  1. They establish balance between family and business priorities.

  2. They work hard to convey this balance to and through the next generation.

  3. They pursue Succession Success.

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How to Achieve Balance Between the Family and Business

In my last post, "How to Find Balance Between Family and Business," I suggested that there are three things that great and enduring family businesses do:

  1. They are dedicated to creating a balance between family and business priorities.

  2. They proactively encourage and are dedicated to the family’s cohesive, supportive values that promote family and business balance.

  3. They achieve Succession Success.

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How To Find Balance Between Family and Business

“Oh, I’m just so tired of this. I want the business to continue, but I don’t want to be bothered with it anymore.” These words, recently voiced by a client, came out of addressing family dynamics that are impacting business decisions. There are a multitude of reasons to not address family relationship dynamics as they are impacted by the business and, conversely, they impact the business. True family leaders don’t cower in the face of these family challenges because they understand that their greatest asset is their family members. Instead, they boldly engage the family in dialogue and interactions that can at times be emotionally trying and nearly impossible to navigate.

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