A Strategic Approach to Family Business Success
You need a plan
There are seven questions you need to be able to answer affirmatively if your business will pass to the next generation and thrive in the process. They are:
Is the next generation ready?
Can mom and dad let go?
Will the family survive working together?
Can the business support the family?
Is there a shared vision?
Is there a culture to hand off?
Is there a growth mindset?
In the download we contrast the traditional approach to answering these questions with a strategic approach that tackles each issue head on.
No matter which stage of the hand off you are in, a sound strategic plan executed well can put the business in a great place to thrive for multiple generations to come. But without a plan most family run businesses fail to make it past the first generation. Don’t be a statistic. Start building your plan today and let us know how we can help.