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 to enter and progress through leadership roles in the business. Joe shares that this process cultivated a deep ownership mentality within his children as they understood the responsibility of ownership.
- 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: Developing the Next Generation