Family business - Succession Planing & Facilitation by Carnegie Australia
Family Business Best Practice - A Life Transition Process to Renewal by Facilitation.
All Families in Business have ‘life stages’.
Best practice families have a transition plan to succession and renewal - perhaps achieved with the assistance of external facilitation - living and breathing it daily.
So where are you now – and do you know where you want to be?
Take a look at the table below and see how many you can tick.
| Stages | Family | Business | Activities |
|---|---|---|---|
| 1. Qualitative Fact Finding – the Human Aspects |  |
|
The Family Business Dynamic - Individual, Family and Business facts, perceptions, needs, interests and interaction. Importantly conflict resolution, relationships, communication, generational issues |
2. Visioning |
|
|
Develop agreed, shared visions for the long term future of the Family and the Business |
3. Strategy Plans |
|
|
Develop agreed, shared strategic plans for the long term future of the Family and the Business |
4. Structures |
|
|
Establish Family Council, Family Constitution and Family Forum. Succession, Exit and Retirement planning |
5. Business Transition Plans |
|
Develop detailed, operational business plans, including: financials, corporate/tax structures, individual roles and responsibilities including non family members, business valuation, leadership and management transition plans |
|
6. Implement |
|
|
Plan, train for and facilitate the painless implementation of all above plans and structures |
7. Monitor/Mentor |
|
|
Monitor implementation and progress. Mentor individuals and provide support as required |
8. Celebrate |
|
|
Enjoy the fruits of your success in the Family and the Business. These should include: happiness, health and wealth, business stability and sustainability, family business continuity. |