116: Culture handoff

Handing Over the Culture to the Next Generation Team

What does it look like to turn over the keys to a company’s culture?

We work with a lot of 2nd and 3rd generation family businesses, and most of them do a pretty good job of paying attention to how stock will be transferred for estate and trust taxes, how the org chart needs to be adjusted for new roles and responsibilities…even the schedule of future monthly or quarterly meetings that Gen 1 and Gen 2 will have together to smooth over any bumps in the road after the announcement.

But precious few pay as much attention to making sure the culture stays robust and healthy through the change.

In this episode, Joey and Devin walk through what culture is and what it means to hand over those intangible keys to the heartbeat of a business.