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Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
Family Business Succession Planning
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Family Business Succession Planning

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One of the Biggest Challenges we face in a Family Business is how to pass on the business to the best person in next generation

One of the Biggest Challenges we face in a Family Business is how to pass on the business to the best person in next generation

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  • 1. Family Business Succession Planning www.FamilyBusinessBattleGround.com Family Business Battleground Surviving and Thriving in your Family Business http://www.perfection-consulting.com/wp-content/uploads/2009/06/businessplanning.jpg
  • 2. Succession is a process requiring planning, teamwork, and constant re-evaluation. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.istockphoto.com/file_thumbview_approve/5068686/2/istockphoto_5068686-business-people-taking-notes-at-a-conference.jpg
  • 3. Succession can extend from 3 to 6 years or longer depending on the age of the successor. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://z.about.com/d/humanresources/1/0/u/C/BFSuitHandshake.jpg
  • 4. One of the Biggest Challenges we face in a Family Business is how to pass on the business to the best person in next generation. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://images.askmen.com/money/keywords/business-networking_965777.jpg
  • 5. We need to make the right decisions for- Ourselves, Our family, Our business while balancing the needs of all three. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.life123.com/bm.pix/what-is-a-business-plan.s600x600.jpg
  • 6. Mainly, a Succession Plan Includes: Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com
    • Our key goals for the succession process.
    • A timetable of the transition stages, from
    • identifying a successor, to the staged, and
    • then full transfer of responsibilities
    • Contingency plans in case the unforeseen
    • happens, or the intended successor declines
    • the role.
  • 7. Family has the sole power to decide who the successor will be and when the transition will occur. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.strixsystems.com/images/services/training-288x169.jpg
  • 8. Succession is a process which occurs in phases. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.thegameoflife.co.uk/media/Lifestyle%20images/Business_clap.jpg
  • 9. Period when one initiates and educates children is vital during succession for the family business . Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.yesdeeglobal.com/image/Clientsimage.jpg
  • 10. If the business of succession is not done by process and through planning, it will be done by crisis or a failure to plan, with perhaps disastrous results. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.fastbusinessplans.com/images/business-planning.jpg
  • 11. www.FamilyBusinessBattleGround.com Family Business Battleground Surviving and Thriving in your Family Business Visit Family Business Battleground to share and strengthen Family Business’s and Relationships.

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