Succession planning is an important process, particularly for family businesses. While family businesses often outperform nonfamily businesses, succession planning can be more complicated due to the need to address issues of both ownership and leadership in the context of the family dynamic. This complexity and the sensitive nature of the issues that surround it requires strong alignment among stakeholders for success. Based on the experiences of consultants Jennifer Pendergast and Kelly LeCouvie shared in their newly released book, “Family Business Succession: Your Roadmap to Continuity,” this webinar will explore one often overlooked but necessary first piece of the family business succession process: establishing a shared vision.
Who should attend:
- Family business leaders who are currently working on succession planning efforts, or who foresee the need in the future;
- Next-generation successors and/or potential owners who want to better understand the issues surrounding the succession process;
- Advisors (attorneys, estate planners, financial advisors, etc.) that work with family businesses that are, or should be, pursuing succession planning;
- Family council members, family directors, independent directors and other key stakeholders that are charged with helping to shape and realize the family’s goals for the enterprise.
What will you learn?
The many decisions surrounding succession and continuity planning can be a source of family unity or family contention. This program will focus on helping enterprising families start their continuity planning on the right foot, or help to bring an ongoing planning process back on track, by sharing the following:
- The opportunities and challenges of succession planning;
- The importance of first steps in determining the success of your outcomes;
- The various aspects of “vision” in the family enterprise and how they affect succession planning efforts;
- Practical guidance on agreeing on and articulating your family’s vision, mission and values with real-world examples;
- Key questions for discussion that can start these critical conversations; and
- How to frame and facilitate the discussion to set up the process for success.
The 90-minute webinar will take place on February 5, 2014, at 1 p.m. Cost is $129.00 (CDs & On-Demand Playback $179.00). Register.