Jéan VenantAll Articles
10 Considerations Every Succession Plan Must Consider
Whether gifted, bought, or developed from the ground up, business owners put their passion to work to establish a lifestyle and opportunities for their families. Far from the entrepreneur's mind is succession planning because many believe it to be the end; when, in actuality, it provides options to create your vision. Succession planning is a transitional, strategic process focusing on the successful long-term continuity of an operating business through the next generation of owners, leaders, and managers. This process is not just about basic estate planning or profits but is highly dependent upon addressing multiple, interdependent, long-term performance factors [...]
Transfer Daily Management & Remain in Control
Successful family businesses have the power to provide for many lifestyles. Owner(s) and their families, key leaders and their families, employees, and the community it serves. Many owners have the vision to transfer out of daily operations and want the business to remain under family ownership. There are many strategies at an owner’s fingertips ranging from an Operating Board of Directors, Management Advisory Boards, and Contingent Successors, just to name a few. Listen to Jèan Venant share different strategies for an owner to transfer daily management and keep the business as a family asset. Family [...]
Is a Temporary Successor Right For You?
The value of the business is directly related to the reliability of future profits. Potential buyers, banks, investors, top talent, and strategic relationships all care about the sustainability of business performance. A temporary, or as we call it, a "Contingent Successor," provides a business owner and their family a strategy to bridge a leadership gap due to an untimed or unplanned life event where the owner is no longer able to lead or operate the business. A "Contingent Successor" protects business value. The news has covered numerous stories about the value of a business plummeting [...]
Family Successors Too Young or Unqualified?
Lack of a qualified family member successor is a common reason family business owners decide their only option is to sell their business; otherwise, they would rather keep it as a family asset. However, for owners looking to transition out of daily operations or "bridge" the leadership gap if something unexpected happens, there are a unique set of options available. In this video, our succession advisor, Jèan Venant, describes a few of the many strategies available to business owners who want to bridge a leadership gap and keep the family business. Family Business Resources: Leverage [...]
How do I protect my business if I, as the owner gets the virus or one or more of my key people?
Business contingency planning is essential for ongoing business success. For business continuity, the key leadership must put processes and structure in place that if they are not around, or if something unexpected happens, the business still survives. Unfortunately, if this is not in place, the business value can be dramatically impacted. Consider an accountability chart – who can step into the key roles and ensure training is in place. The key is having the right structure and having the right people in the right places. The most important thing is your people. The second most [...]
How do you best support employees at different stages of stress and potentially grief?
As we continue to navigate the pandemic, it is important to recognize that your employees have been on a roller coaster of emotions for a long period of time. You may already be doing it, but providing support to your people is critical to help them navigate stress and even grief. One critical way of navigating this is by being intentional in your communications with your people. Ask them how they are feeling, how they are doing, and if there is anything you can do to help them. Be intentional about listening to what they [...]
