After collecting decades worth of knowledge and experience in the field of family business, Grant Walsh and Danielle Walsh have finally put together this book (A Practical Guide To Family Business Succession Planning) to share their knowledge with everyone.
From the back of their book:
This book is intended as a practical guide for families in business to help them navigate the difficult processes of management and ownership succession while maintaining family harmony. Using the Walsh Succession Model and its proven succession activities such as guiding principles and corresponding family business rules, families in business will learn HOW TO successfully integrate the all-important family component of a successful succession plan with the conventional technical component (estate planning, tax minimization, etc.). Some of the key questions answered in this book include:
Is ownership available only to family members who work in the business? If so, why?
Are future owners’ equal owners with equal pay and equal votes? If not, why not?
Do family members need to have a certain level of education and outside work experience if they wish to migrate into management and leadership? If so, what are the criteria?
Does the family have a process to deal with conflicts among its members? If not, why not?
All of these questions and many more are addressed in this book to help family business owners and potential successors sleep better at night by providing them with a clear succession plan and the tools to execute it. There should be no more excuses not to embark on your family business succession journey.