The document discusses succession planning for family managed businesses. It recommends choosing a successor, creating a family board of directors to oversee the transition, and elevating oneself to an advisory role to mentor the successor while allowing them to drive decision making. Proper grooming and training of the successor over time is important according to a defined syllabus and timeframe. The successor should be chosen, not necessarily an heir, as biological descendants are not always ideal to take over the business without proper preparation.

1. Succession
Planning
Family Managed Business
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2. Have you
chosen a
Successor?
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3. Syllabus
Topics
Assessment
Periodicity
Decision Making handing over
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4. Family Board of
Directors
• Director’s eligibility
• Non-Classified Information only
• Advance notice
• Periodicity pre-defined
• Maintain Minutes of Meetings
• Honor decisions taken
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5. Create and
Value IPR in
your books
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6. The Transfer
of Power
• Elevate Self to Advisor
• Create Decision Boxes
• Budget for each Decision Box
• Allow successor to drive each
Decision box
• Mentor on each failure
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7. Target your
Self
promotion to
Advisor
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8. You will always
have some
unfinished
agenda
Today is the right time to decide and
start working consciously on your
successor!
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9. Successor and Heir
• Heir is defined in your Will.
• They have a right to your wealth.
• Successor is defined in your Board of Director’s
Resolution.
• They are custodians of your wealth generation engine.
• They drive your Intellectual Property Enterprise
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10. You choose
your
Successor,
not your Heir!
Biological Descendants are not
necessary great successors if your
grooming is not planned.
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11. In a Nutshell
Decide
Train as per
syllabus and
timeframe
Create
Family
Board of
Directors
Elevate self
to Advisor
Recognise
Heirs and
Choose
Successors
Your unfinished agenda in life is your back log. Why delay the successor in their agenda?
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12. Weekly
Every Wednesday
4 PM
• Join us for a weekly dose of
business development
initiatives
• Ask for enrollment into an
annual package
• Use one registration to train
your entire office on business
development

13. Join us on
YouTube. We serve
you with one new
video on Business
Development every
day at 7 PM.
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