Family Business Succession Preparation
Family owned businesses are known to have poor survival rates. The well-documented number one reason for family business failure is poor Communication followed by lack of Preparation. Regardless of size or maturity, we prepare family owned businesses to communicate effectively, align behind common values and eventually pass the business operations smoothly from the owner to someone in the family. Our objective is to keep the family in tact for the long term benefit of the business.
Succession Strength was founded from our experience working in and around family businesses and the desire to see families in business overcome these issues. We bring a unique approach to helping families in business succeed for generations. Our approach focuses on overcoming conflict and communication barriers; and preparing successors to successfully take over and thrive.
What We Do
We work with families in business – both owners and successors – to secure the business for the long term; prepare the family and the business to navigate the complexities of a succession for a smooth transition; and successfully integrate the new leader into the business.
Guiding strong and productive dialogue between generations while managing conflict. Learn why.
Establishing strong operating guidelines to ensure success for the business and family. Learn why.
The Succession Strength approach is built on three pillars: communication, preparation, and execution.
Communication is the center of our approach. In our work with family businesses across the globe, we’ve found that the ones who 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. No plan survives 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.
Effective Communication and Preparation
for Smooth Transition
Reopened Communication Lines. Successor Preparation. Executive Guidance.
How We Work
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.
SUCCESSION STRENGTH ASSESSMENT
This free 5-minute assessment uncovers the strengths and weaknesses of a family business’ efforts in passing the business from the owner to someone within the family.
Our practical and actionable solutions vary across a wide range of budgets and timeframes and are designed to help family owned businesses to smoothly pass the business from the owner to someone in the family. They meet the unique needs of family owned businesses and range from self-help guides for specific one-off issues, to more in-depth family business advice, consulting and coaching.
Prepare the business and family for a smooth succession transition with our advice and support.
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