A novel way to solve the business succession crisis

istock_84627215_large

Better planning, documentation and family communication are among the usual remedies prescribed to relieve the succession crisis. But none address the real problem. As the patriarch of one business family once said to me, “The hardest part is figuring out whether your children are worthy or capable of following in your business footsteps.” Meanwhile, his children had different thoughts: “Your footsteps are no longer heading in the right direction. Thanks for the years of building your legacy, but please take a back seat.”

Source: A novel way to solve the business succession crisis | TheGlobeAndMail.com

Get free access to our educational material

We will give you advice from your peers who have lived it, experts who know it and short activities that will point you in the right direction for success.

  • This field is for validation purposes and should be left unchanged.