What to Consider When Creating a Succession Plan

succession plan

In a previous article, I addressed the necessity of creating a family business constitution. Having this document establishes your mission, as well as provides agreed-upon guidance and expectations regarding how your family business is run. This includes the difficult, yet necessary, question of succession planning. While succession is simple when only one child is involved, […]

Creating the Right Family Constitution for Your Business

Family business planning

When my parents first proposed creating corporate governance and a family constitution for our family business, we all thought it was a great idea. Everyone was enthusiastic—until we began the process. It was time consuming, tedious, and at times, quite frustrating. However, with the wise, calm, and steady leadership of our parents, we were able […]