ABSTRACT
When most Family Business owners think of succession, what first comes to mind are issues like: what are the financial, fiscal, and inheritance rights consequences? Are these technical issues important? Sure. Are they the most important? Absolutely not! Solutions to these technical issues can be purchased from the respective experts. Research shows that once the emotional minefield is cleared, the solution to these technical issues is almost self-evident.
John and Annie invite a solution-focused family business coach, Maar. In their first session, Mark explains that every succession is as individually different as a person's fingerprints. In order to prepare, he gives the couple some homework: questions that will guide their thinking.
This chapter explains the ten Best Practices that prepare the Founding-Owners for their next step. John and Annie have their first meeting with the children on the topic of succession.
