Business Succession advisers continually stress the importance of good communication among business owners. There is no doubt that “the better the communication, the greater the chance of successful business transition”.
What is even more important is determining on a prioritized and systematic basis what business owners need to discuss to get them to the “right business succession place”. 50 Hurdles – Business Transition Simplified is all about what good business owner communication needs to focus on – and the order in which it needs to do that.
Buy this book now, read it carefully, subsequently use it as a reference source, and chances are you will buy a copy for each member of your business family.
How this book is different
This book does not
- Assume all family business owners want to transition their business to subsequent generations
- Assume that generational family business transition planning is the right course of action for every business family
- Tell you that you, your family, your management team and your advisors should not plan to transition your business to subsequent generations, but nor does it tell you that you should
- Should provide your business family with lots of thought-provoking ideas to enable better communication among your family members with respect to family business transition
- Should help your business family better communicate with one another in the context of both generational business transition planning and the possible arm’s length sale of your business
- Should help you and your business family better communicate with your internal and professional advisors about business transition, and in turn help them better communicate with you and your business family on that topic
- Discusses how increasingly important it is that your business family continually monitor the business viability, growth and value enhancement prospects of your family business
- Identifies and discusses generational business transition hurdles that may prove to be unscalable barriers to generational business transition for some families
- Discusses important business valuation principles and concepts that everyone involved in the transition of your business, especially all members of your business family, needs to understand
- Provides high-level guidance if your family decides to sell your business to an arm’s length purchaser