‘My parents promised to hand over the business when they turned 65 but it is not happening. What can I do?'
This is a common cause of family business conflict that's hard to resolve if Dad and/or Mum have legal and effective control of the business and its assets. We need to resolve the impasse without breaking the family or the business in the process.
Process:
1. Conduct confidential interviews with each key family member to identify personalities, issues, individual & collective goals, and blockers. Provide a Feedback Report for further discussion.
2. Deal with individual emotional issues and needs and at least partially resolve relationship conflicts so the family can safely meet to discuss and resolve its big issues.
3. Create a safe environment where the focus is on the family’s big picture legacy, rather than on any specific individual. This is typically a Values, Visions & Goals workshop that results in a long-term Family Plan.
4. Implement the Family Plan, which now includes a Succession Plan.
By VIC-based Family Business Accredited Advisor
Jon Kenfield
The Solutionist Group
