We treat family businesses like family.

Family business matters. But only 30% of family businesses survive into a second generation. Are you prepared?

Transitioning ownership of a family business is one of the most important business decisions you will make … and almost certainly the toughest.

For a family business, transition is a once-in-a-lifetime decision. Perhaps no challenge has as much potential to amplify the unique stresses, or conversely, highlight the special advantages of operating a family business.

And as if the business, emotional, legal, and technical issues weren’t thorny enough, consider this daunting fact: only 30% of family businesses survive into a second generation.

Most families are reluctant to tackle the issues and yet the health and longevity of a family business depend on careful transition planning—and on communicating the results of that planning to the right stakeholders at the right time.

Our approach is diagnostic and fact-based, but also human centric. Not only do we assess the business; we also evaluate the personalities, strengths, and relationships to ensure continuity and success.

Our Family Business Transition Process

  • We partner with the Owner(s) to assess and understand the business through their eyes, including:

    • Ownership objectives

    • Strategy and direction

    • Competitive advantages

    • Key business drivers

    • Existing financial framework (cash flow, balance sheet, income statement, leverage, IRR, cap ex needs)

    • Succession plan

    • Communication plan

  • Then, we diagnose and pressure test the current business situation to:

    • Identify transition traps to avoid derailment

    • Evaluate timelines and business objectives

    • Vigorously research and define the competitive landscape

  • Next, we work to develop competency models for all key positions to:

    • Conduct an independent talent assessment

    • Validate competencies for the strategy and direction of the business

    • Coach key people against the model to improve skills and capabilities or to reposition into more appropriate roles

  • Ultimately, we develop a monthly operating rhythm using the numbers to align and facilitate the management team in the achievement of their goals through:

    • Financial review

    • Operational review

    • Project review

    • Timeline review

Digital transformation for today. And tomorrow. 

Today’s business operates at a different pace with a different set of tools. Technology is table stakes for larger enterprises. To compete, family businesses need a roadmap to ensure operations, customer experience, and employee engagement are aligned with growth objectives.

Our team works with yours to identify, implement, and execute digital strategies that include:

  • Financial reporting and analysis

  • Inventory management

  • Management operating and reporting systems

  • Customer Relationship Management 

  • Go to market and communications 

  • Customer experience platform

  • Future of work and HR/engagement solutions

The 8 steps for a successful
family business transition.

1

Plan

Start your transition
planning early.

2

Articulate

Articulate a clear vision to family, employees, and key stakeholders.

3

Formalize

Formalize a succession plan as part of a larger business plan.

4

Prepare

Work diligently to prepare the next generation for what’s ahead.

5

Communicate

Communicate the plan to the extended family.

6

Anticipate

Anticipate and address where potential conflict might arise.

7

Build

Build an experienced transition management team.

8

Develop

Develop a written business succession plan with an implementation timetable.

Family transition success stories.