Business Succession Planning Strategies Newsletter

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Family Business Decisions – How Emotions Can Triumph Over Reason

2015-06-08T04:10:00-05:00By Jeff Faulkner|Categories: Newsletter Archive|Tags: Atlanta Succession Planning, Personal Financial Planning - Estate Plan|

Whoa! I was definitely not prepared for the meeting I just had with my client. Going into the meeting, I thought I was well prepared. However, I came to realize that emotions have a way of clouding what appears to be very straightforward decisions. The meeting was to facilitate the client transferring substantial assets to [...]

Identifying Successors – Can I Have Multiple Successors?

Identifying Successors – Can I Have Multiple Successors?

2015-04-15T09:52:00-05:00By Loyd Rawls|Categories: Newsletter Archive|Tags: Family Governance, Orlando Succession Planning, Successor Preparation|

~ An Excerpt from Family Business Heartburn Relief™~ The vast majority of businesses have a designated "successor leader." However, a business can have multiple successor candidates, who can provide support to "the leader." Successor candidates include any family member or key manager who brings value to the business and is prepared to serve as a [...]

How to Move Under-Performers Up or Out of Your business

2015-04-15T09:52:00-05:00By Dan Schneider|Categories: Newsletter Archive|Tags: Business Performance, Des Moines Succession Planning, Successor Preparation|

Take stock of the employees in your company; most likely you have already mentally classified them into categories of nonperformers, underperformers, average performers, or super performers. Hopefully, you have the majority of your people in the super performer bucket, but in all likelihood, you have a mix of all four types. As the business environment [...]

2 Key Areas Impacting Your Ability to Take Your Business to the Next Level

2015-03-09T08:00:00-05:00By Dan Schneider|Categories: Newsletter Archive|Tags: Business Performance, Des Moines Succession Planning|

When working with a team of business leaders, one of my first questions is "How many of you are ready to go to the next level?” Either a lot of hands go up or there is a chorus of "Absolutely." And then I ask them "How many of you know what the next level looks [...]

How to Handle Underperforming Family Member Employees

2015-01-20T21:29:14-06:00By Loyd Rawls|Categories: Newsletter Archive|Tags: Family Dynamics, Orlando Succession Planning|

Family members are attracted to the family business for a number of reasons. Most of my clients are thrilled to have their offspring involved in their businesses and many have high aspirations for their children. The truth is, family members can represent a profound asset especially if they enter the business with humility, adequate training, [...]

How Many Hats are Too Many?

2015-01-07T19:38:45-06:00By Jeff Bannon|Categories: Newsletter Archive|Tags: Los Angeles Succession Planning, Successor Preparation|

There are many elements that are key to a successful business and it is not a walk in the park. Most often, some of these characteristics include: A strong leader who is on top of their business Someone who is able to wear many hats and put out fires as they arise Someone who has [...]

Working Towards Working Together

2015-01-07T19:17:15-06:00By Loyd Rawls|Categories: Newsletter Archive|Tags: Family Dynamics, Orlando Succession Planning|

When I first met my wife, Patricia, I was head over heels in love. Although, just a few years after our honeymoon, our marriage appeared to be less than ideal. However, we decided we wanted to be married so we found a counselor to help us understand and deal with the good and bad we [...]

How Giving Too Much to Your Kids Can Impact Your Succession Goals

2014-12-02T16:10:00-06:00By Jeff Faulkner|Categories: Newsletter Archive|Tags: Atlanta Succession Planning, Family Dynamics, Family Governance|

There are 3 common "giving" pitfalls that create future havoc on your succession plan. Most of the time family business owners believe they are doing the right thing, but are unaware of the long-term impact of giving or creating unearned rewards such as a job, title or a paycheck. Giving-Creating a Job Many family-owned business [...]

Succession Planning Techniques Often Overlooked

2014-10-02T16:10:00-05:00By Hugh Roberts|Categories: Newsletter Archive|Tags: Los Angeles Succession Planning, Personal Financial Planning - Estate Plan|

“Is there anything you would have done different than your father regarding estate planning?” “Yes”, replied the son. The son, now a highly successful auto dealer, was emphatic in his response. “Dad was unwilling to do anything. He thought he would lose control. We were lucky he died during good market conditions - our dealership [...]

How to Assemble Your Succession Planning Team?

2014-09-05T15:52:00-05:00By Champ Rawls|Categories: Newsletter Archive|Tags: Orlando Succession Planning|

Engaging in the succession planning process can be a daunting task. Being transparent, identifying current and potential issues and developing a plan for the greater good of the business and family requires substantial energy. To add further complexity to this process, getting family and key managers to mutually come together for a shared purpose can seem impossible [...]

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