Succession Preparation

Navigating a Succession transition could be challenging particularly for family businesses which are known to have poor survival rates. The number one reason for family business Succession failure is poor Communication followed by lack of Preparation. We prepare businesses to communicate effectively, align behind common values and, eventually, pass the operations smoothly to the next generation. 

What We Do

We work with families in business to secure the business for the long term; prepare the family and the organization to navigate the complexities of a succession for a smooth transition; and successfully integrate successors into their new roles within the business.

COMMUNICATION

Guiding strong and productive dialogue between generations while managing conflict.

GOVERNANCE

Establishing strong operating guidelines to ensure success for the business and family.

SUCCESSOR PREPARATION

Preparing family members to confidently and successfully integrate into their new roles.

Our Approach

Our approach focuses on overcoming conflict and communication barriers; and preparing successors to successfully take over and thrive.

Every family business interaction with Succession Strength begins with an evaluation of the situation. This evaluation is either self-directed via the Succession Strength Assessment or in a conversation with our team. Based on the results of the assessment, a diagnosis is made and an action plan is developed and implemented. 

The Succession Strength approach is built on three pillars: Communication, Preparation, and Execution.

Communication is the center of our approach. Family businesses that thrive through succession are those that use key conversations to facilitate alignment and eliminate stress. Because that’s easier said than done, we patiently guide our clients in opening and maintaining dialogue before, during, and after a succession transition.

Preparation is the fruit of healthy communication. It identifies the critical elements in any transition and formulates a concrete plan for wading into the inevitable complexity of change. Through it all, we work hard to ensure that the aligned vision of the family is never lost in the shuffle.

Execution converts preparation into action. Few plans survive contact with the enemies of change resistance and succession stress. That’s why we stick with our clients through the process, helping them talk their way through hurdles without compromising on core values.

Our Solutions

We provide advisory services along with practical and actionable solutions vary across a wide range of budgets and timeframes and are designed to meet the unique needs of family owned businesses: 

COMMUNICATION

Establish strong dialogue between generations. Solutions include:

GOVERNANCE

Prepare the business and family for a smooth succession transition with:

SUCCESSOR PREPARATION

Navigate the complexities of a succession transition with

 

Not sure what help you need?

                                        TAKE THE ASSESSMENT

This free 5-minute assessment quickly uncovers the strengths and weaknesses of a family business’ efforts in preparing for a generational transition.

Effective Preparation for Smooth Transition

   

Reopened Communication Lines. Clear Governance. Effective Successors.