Startup & Entrepreneurship

Training & Grooming Successors in Family Company

Introduction

This practical training program is designed with:

  • 16 hours training 
  • 03 months one-on-one coaching

 

 

 

How you will benefit

By the end of the program, participants will be able to groom Stakeholders and develop Leaders

Who should attend

Families in Business: From Generation to Generation is intended for teams of business family members, such as:

  • A chief executive officer [or top family business leader(s)] and his or her spouse
  • Children of the business leader(s) and their spouses
  • Siblings and their spouses/partners
  • Cousins and their spouses/partners
These family members might be:
  • A manager or an employee
  • A board member
  • A shareholder
  • An interested relative, who may be an in-law

What you will cover

Module 1: How to start

  • The family dramas of succession and inheritance
  • How to prepare your family for the succession process
  • Education is key to succession preparedness
  • Succession logistics are not the main focus
  • Financial implications for family business transition
  • Avoid the pitfalls of trust planning
  • Non-financial challenges for successors and stakeholders
  • Facing reality prevents nightmare scenarios
  • Leadership development and succession execution
  • Creating a plan for succession in the event of an emergency

Module 2: How to select

  • Making the right choice for a family successor
  • Don't pin all your hopes on one family successor
  • Family business daughters' leadership potential
  • Can a non-family successor add value to your business?
  • What if the successor isn't working out?

Module 3: How to lead

  • The secrets of successful family business successors
  • Don't take the easy way out
  • Family enterprise leaders need extra social skills
  • Making the leap from doer to leader
  • Success without outside experience
  • Seniors and successors working together

Module 4: How to develop

  • Negotiating a rise to the top
  • Selling the business to the successors
  • Seniors: Proceed cautiously when advising successors
  • When the successors don't take charge
  • Managing the relationship with shareholders

Module 5: How to work

  • Sibling partnerships involve insight and foresight
  • Shared power: Look out for landmines
  • Blood is not enough
  • Cousin collaborations require a change in board design
  • The challenges of a large shareholder group
  • Keeping titles in their proper perspective
  • Leading the family
Study Time

This practical training program is designed with:

16 hours training - 2 days

Schedule

New York
3,500 $
06 Jun & 07 Jun 2023

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