From Joe’s perspective, succession planning is the most reasonable thing he has done to help his business. As Joe says, “Like it or not, the family business is tough.” It never is “just business” when the family is involved, so it is hard to separate business and family matters. However, the process allowed the business to do much better and enhance the personal lives of the Chastang family.
Commitment to the succession process shows the next generation, key leadership, and employees how much you care and breeds respect and trust. With respect and trust, family, key leaders, and employees are in a position to listen, gain understanding, and collaborate to identify win-win strategies.
- Succession Readiness Survey: A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook, impacting business value, growth, lifestyle, and ultimately achieving your vision.
- Contact Us: We can help you with insights and other resources and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business immediately.
For more insight from Joe Chastang of Chastang Ford, check out the next episode in the 10-part series: Livelihoods Depend Upon Business Success