Dan SchneiderResources
Focused Leadership
High-performance cultures require discipline. Formalities, efficient processes, and strategies that reward teamwork and achieving goals motivate and inspire employees to go the extra mile. As Joe shares, the succession planning process helped his leadership team focus on priorities which has resulted in managing their company, employees, and family-business dynamics. Because [...]
Family Business: Deal With Each Other Better
Familial communication patterns can create stress in the business environment. Assumptions, stereotypes, and emotional baggage often cloud judgment, reactions, listening, and getting to know someone as an adult versus just a sibling or child. Many believe a Will, Trusts, and business agreements are the crux of succession planning; however, as [...]
Balancing Family and Business
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, [...]
How and When to Turn Over the Reins
Depending upon whether you want to sell the business, transition leadership/ownership to a family successor, or outside management - the following steps will set you up for success. The sooner you begin this process, the sooner you protect your life's work and be able to begin climbing other mountains. Decide what event(s) will trigger [...]
Family and Employee Livelihoods Depend on Success of Business
Many lives depend upon the business's ongoing success, employees, families, and community. Succession planning is an investment that returns incredible dividends.Whether you are looking to transition ownership or sell for the highest multiple, succession planning ensures you have the right amount of capital, the right people to lead, and the best [...]
Integrating Family is Tricky
Integrating family into the business is a tricky process. Commonly, owners are either too easy or too hard on their kids, and with no formal process, next-generation flounders. Insecurities and resentment grow in this environment, impacting professional development and family relationships. Succession planning provides formality and discipline for the family [...]
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