What is Business Succession Planning?
Maybe an online search has brought you here. Maybe you heard the term business succession planning from a family member, friend, colleague, or at a conference. We’re glad you found us! At The Transition Strategists, we’ve been crafting business transitions for over 20 years, and we’re proud of our 100% success rate. That’s right, 100% […]
Should You Take Over Your Family Business?
If you’ve been working for your family business, you understand that family and business are often inseparable. That’s why it can be so important to the owner, (your parent, grandparent, aunt, or uncle) that the business stays in the family for future generations. If presented with the opportunity, should you take over your family business? […]
What Are The Steps In Business Succession Planning?
Are you a business owner nearing the end of your career? Even if you’re not quite ready to retire but are thinking about what’s next, you might wonder what are the steps in business succession planning? We’re so glad you asked. The Transition Strategists help owners and their businesses through key transitions, especially succession. It’s […]
Four Reasons It’s Never Too Early To Start Business Succession Planning
Have you created an estate plan even though you have no intention of leaving this earth anytime soon? Making the appointment with your attorney probably wasn’t high on your list of “fun things to do,” but you did it — partially for tax reasons, perhaps, but ultimately out of love for the people and causes […]
New Book: It’s A Journey
Elizabeth Ledoux and Laura Chiesman have launched their latest book: It’s A Journey – The MUST-HAVE Roadmap to Successful Succession Planning. Available NOW on Amazon! During their virtual book launch party, Elizabeth and Laura shared what inspired them to write this book and how it will impact family and private business owners nationwide. This relationships-first […]
5 Relationship-Building Behaviors for Business Owners
If you were asked by a young entrepreneur to identify the three most important lessons you’ve learned over the course of your career, how many of the three would have to do with the logistics of a product launch, mechanics of installing cyber-security measures or mastering the intricacies of the Federal Tax Code? Read about: […]
Move Beyond Fear: You Can Have A Successful Business Transfer
Do you know any business owners who can visualize a crystal-clear transition path from where they are—running successful companies and living great lives—to where they want to go—happily out of their businesses and living their Next Adventures? If you do, or if you are one of these owners, you are remarkable. Remarkable because we’ve found […]
Top Five Must-Have Characteristics in a Business Successor
If the topic of choosing a business successor is one that you’d rather put away for a rainy day, this article is for you. Here you’ll find two lists: the five perspectives shared by business owners who have successfully transitioned their businesses to successors and the five most important characteristics these owners looked for and […]
5 Conflict Resolution Tips When Running a Family Business – The Child’s Perspective (Part 2 of 2)
As we described in Part 1 of this two-part series, during the course of the transition of a business, owners, and successor participate in a three-phase dance: Phase 1: Original owner leads and teaches the successor the steps. Phase 2: Owner and successor alternate the lead. Phase 3: Successor leads and the original owner follows. Ideally, owners and successors avoid each other’s toes during this dance. In the real world, however, sore […]