Planning for business continuity
Only 30% of family businesses make it to the 2nd generation. The top 3 reasons are lack of planning, family conflict and estate taxes. Our business succession checklist offers 10 Key Questions to determine where the owner is regarding succession planning.
There are 3 primary options for the future of a family-owned business – sell, liquidate and/or gift the business. If an owner intends to retire and have the family continue their business, there is a lot of planning to do. They need to resolve any potential conflicts and plan for the succession of their business and retirement.
Helping family businesses achieve their vision through EOS®
One of the biggest drivers of conflict in the family business is a lack of clarity. That’s especially true for a family business amid transition, whether the transition is related to growth or a planned retirement for the founder.
Kyle Danner utilizes the Entrepreneurial Operating System® to help provide structure to the situation. He is a business consultant helping business owners provide a clear path forward. Below is a link to learn more about the EOS® Process and Tools that can help your clients build structure for the continuity of their business.