As appeared in the Golf Business Canada magazine Spring 2018 edition
Research shows that too much attention is being paid to the technical aspects of the succession plan, such as the estate freeze, business valuation, tax minimization, trust and wills while too little attention is being paid to the no-technical component such as...
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The Keys to Family Business Continuity: Laying the Groundwork
As noted in a recent Jewellery Business article, research demonstrates although most owners would like to transition their businesses to the next generation, 67 per cent don’t make it to the second generation, and 88 per cent don’t make it to the third. (For more on these numbers, consult the fourth edition of Ernesto...
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The Keys to Success: Means and Methods for Training a Successor
We have all heard statistics stating 67 per cent of family businesses won’t make it to the second generation and 88 per cent won’t make it to the third. (For more, see the fourth edition of Family Business by Ernesto J. Poza and Mary S. Daugherty, published by South Western Cengage Learning in 2014.) One of the contributing...
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Get Your Family Onboard: Lesson 3 From the Pirates – Exit Strategies
The pirates’ exit strategies although quite brutal, were perfectly clear to the crew onboard. These are not necessarily the recommended exit strategies for family members, although, it may sometimes feel like these methods would be appropriate! The code of conduct or articles onboard ensured that the terms...