I keep coming across families in business who do not have a succession strategy or plan


Actual case study:

Long term successful family business where the founders are in their eighties and there are six next generation siblings working in the business. The father is the sole owner of the business and is very rarely seen at the business and, when he does attend, there is generally an argument between the siblings and their father as he sticks his fingers into all manner of issues and constantly changes decisions the family member managers have implemented.

The father has a serious health problem and could rendered incapable of every being mobile again.

Three of the siblings working in the business have resigned and are due to leave within a month when I was contacted. There has never been a conversation between the two generations regarding what happens if the founder dies and no one knows what is in his will or how the business is legally structured. 

A disaster waiting to happen that could bring the business to a stand still.

We finally fixed the problem and it took many weeks. It was only after I had facilitated a number of group and individual family conversations. All family members were able to know and understand the business structure and agreed the role each family member would play in the future of the business. 

There is more to this than the above, but it was all about having conversations and everyone having the right to be heard.




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