LISI Family Business Continuation Planning Consulting Guide – Digital Download
This monograph discusses important, selected topics that bear upon the subject of family business succession planning, with a bent toward the practical, all based upon Paul’s over 30 years of experience dealing with family business succession planning issues both as a lawyer and as a non-lawyer family business consultant.
Table of Contents
Importance and Impact of Family Businesses.
The All-Important Keep-or-Sell Discussion.
Introduction to the 39 Critical Questions.
The 39 Critical Questions.
Aligning the family values with the values of the family-owned business.
Critical points in time for frank, honest and open family conversations.
Identifying, grooming and selecting leadership succession candidates for the family business.
The importance and use of outside advisors and directors for the family business.
The all-important leadership transition process.
The employment rules of the road-do all family members have a right to work for the business?
What about the efficacy or desirability of requiring a minimum period of work experience outside of the family business?
The tension and importance of non-family member key employees
The balancing act-keeping the peace between family members who work for the family business and family members who don’t.
What follows are some thoughts I have that come out of my experience guiding business families for over 30 years