Lessons Learned From Transitioning A Family Business

Family businesses are unique in that transitioning them to the next generation is a complex, often deeply emotional, endeavor. As a young family owner, aspiring to one day take the reins, how do you prepare for such a monumental responsibility. As an exiting parent (or other family member), how do you impart years of experience and knowledge and ensure younger family members are successful, yet able to chart their own path?  For all parties, the goal is to create a business that is resilient, while keeping the legacy intact. Building capacity in the next generation needs to begin early on, and you may also need to consider outside, non-family executives.

• What measures do you need to be taking to professionalize your family owned and operated firm?
• How are you supporting a shift in leadership?
• How do you ensure you have the right governance in place?
• In this session second generation business owners will share their recent experiences and perspectives in taking over the family business.