Succession Planning

As I was working on this blog, a timely piece of wisdom from Seth Godin hit my inbox. Seth writes:

“We talk about risk like it’s a bad thing. But all forward motion involves risk.”

He is spot on.

There was risk starting the business.

Risk with each new hire.
Risk growing a geographical market.
Risk with the newest product... Read the Full Story

I work with many family business owners that are passionate about what they do.  They work to carry on a business that was built by family – by parents, grandparents, even great-grandparents and beyond.  These family business owners are so busy providing for their employees, for their communities, for the next... Read the Full Story

June 2018 – Now that the acquisition and transition mission was successfully complete, having guided the IT, Support, and Operation departments to become one Cleo, it was time to start focusing on another growth stage for the company. We dubbed it “Mission: Customer Success”.

Customer satisfaction and loyalty is critical to any business, and Cleo was no exception. The... Read the Full Story

This is one of the biggest problems in family business governance, where parents are trying to be fair to the children, and they think being fair means being equal.

In family business, fair does NOT mean equal.  This well-intentioned misconception generally causes all sorts of problems and disharmony. It is the very thing the parents were trying to... Read the Full Story

While I love reading articles like “the top 10 ways to….” or “how to succeed in business without really trying”, sometimes I’m more curious about how to avoid mistakes or pitfalls.  This leads me to today’s topic: how to fail at family business succession planning. 
First, what is a succession plan?  Before I tell you how to avoid failing at it, it’s best that I define it first. ... Read the Full Story

 
“The father buys, the son builds, the grandchild sells, and his son begs.” Scotland
“Rice paddies to rice paddies in three generations.” Japan
“Clogs to clogs is only three generations.” England
“Wealth never survives three generations.” China
“Shirtsleeves to shirtsleeves, in three generations.”  United States
 
It’s a common phenomenon around... Read the Full Story

Well, if you haven’t been informed by now, here is your announcement: I’m pregnant!
 
I have been waiting for this for a long time, and it’s here. Not really planned…just a total, joyful, surprise!  We could not be more ecstatic for all of the new beginnings already happening in our lives!
 
BUT…... Read the Full Story

How do you get your family business to ‘run well’?

... Read the Full Story

 

 

One of the most provocative questions I ask clients is“would you enthusiastically rehire everyone on your leadership team?”

Typically once they’ve processed what I’ve truly asked them, their eyes widen and I get an immediate “NO.” Or I get a long pause, sometimes an eye roll… and you can immediately feel the tension fill the room like a thick... Read the Full Story

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