Family Business Transition Planning

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.

Family Business Transition Planning Checklist

Stages Family Business Activities
1. Qualitative Fact Finding – the Human Aspects
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The Family Business Dynamic – Individual, Family and Business facts, perceptions, needs, interests and interaction. Importantly conflict resolution, relationships, communication, generational issues

2. Visioning

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Develop agreed, shared visions for the long term future of the Family and the Business

3. Strategy Plans

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Develop agreed, shared strategic plans for the long term future of the Family and the Business

4. Structures

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Establish Family Council, Family Constitution and Family Forum. Succession, Exit and Retirement planning

5. Business Transition Plans

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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

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Plan, train for and facilitate the painless implementation of all above plans and structures

7. Monitor/Mentor

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Monitor implementation and progress. Mentor individuals and provide support as required

8. Celebrate

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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.