The Family Business Program
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Manage the needs of the business while coordinating the financial and emotional needs of multiple generations
• Implement necessary survival and growth changes while preserving the positive aspects of the family-business culture
• Assure that all family members in the business are contributing to the best of their skills and abilities
• Coach and train family members to help them achieve extraordinary outcomes
• Manage relationships among family members to reduce friction and create even greater harmony
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Assure that key non-family members in the company are being treated fairly and are properly motivated
• Protect corporate and personal assets of the owner and other family members
• Provide a comprehensive financial and operational plan for transitioning from business leadership into retirement
How Does The Family Business Program Work?
Step One: Assess the organization and its people
• Assess the organization structure, processes and staff to create strategies to assure that the company is prepared for future changes and growth
• Assess the extent to which the business is run by family norms. We highlight the impact that family is having on the business and address those areas of concern.
Step Two: Manage the Contributions of Family Members
• Assess the readiness and qualifications of a family member to work in the business
• Address salary and other human resources issues that meet business norms while maintaining solid family relationships
• Implement impactful training and coaching for those family members designated to be future leaders and/or owners of the Company
• Maintaining the balance between professional management and harmonious family dynamics
• Apply proven conflict resolution strategies dealing with family issues in the business
• Provide a process for the necessary removal or demotion of a family member in a way the truly supports his/her needs as well as the needs of the business
Step Three: Create a Family Business Action Plan
• Provide a plan that coordinates powers of attorney, financial and ownership agreements, as well as various family trusts
• Prepare for unexpected health or long-term care issues (costs and business continuation) that affect the future of the business
• Design a structure for best utilizing corporate assets to provide personal benefits for family members while maintaining the needs of the business
• Create a buyout plan in preparation for retirement or in the event of the owner’s disability or demise
Step Four: Prepare to Hand Over the Reins
• Assess the business and family readiness for your retirement
• Address ownership issues if the business is to be transferred to a non-family member
• Produce a written business succession plan, including buy-sell agreements between partners and funding to secure a potential buy-out
• Make financial provisions for heirs who are not in the business
• Create a plan for transitioning into retirement