The process of transitioning your family business to the next generation can feel complicated and overwhelming. The odds of success seem stacked against you and you may not know where to start.
A collaboration between the Family Business Alliance of Grand Rapids and the Family Business Consulting Group, this workshop series will help you identify the issues and activities to succeed at succession and implement a plan for success. The curriculum for the event will be addressed in all three sessions.
Who should attend:
Current and future leaders of your family business enterprise. It is helpful to have both generations attend but not required.
Areas of focus include:
Understanding the roles of owner, board member and leader and how they relate to each other
Creating or updating family vision, values and expectations for business enterprise performance including growth, risk, profit and liquidity
The value of a Buy/Sell agreement in valuing, gifting and transacting
Effective family and business governance structures and processes
Helping the next generation of all ages learn about business in general as well as the family business specifically, discover their interests and prepare for a successful career
The challenges of the now generation letting go and the next generation grabbing on and how those challenges can be successfully met
Identifying and developing future leadership including family and non-family members
The role of owners who are not otherwise involved in the family enterprise
Ownership succession and estate planning considerations