Tag: family business succession
The Hidden Costs of Poor Succession Planning to Australian Family Business – and how Mediation can reduce both Cost and Damage.
Family businesses are the backbone of the Australian economy, making up over 70% of all businesses and contributing significantly to GDP. Yet for all their strengths, they face unique challenges when it comes to passing the torch to the next generation to ensure business continuity. Poor succession planning can lead to big financial losses, cessation […]
Read MoreBusiness Family Alignment – the Family Plan
Throughout the Western world, less than 5% of all family businesses survive the third generation curse: “from shirt sleeves to shirt sleeves in three generations”. The 5% that do make it through often proceed for many generations – in clear evidence that they’ve worked out and applied something really important to their family about sustainability […]
Read MoreDifficult Family Conversations – 10 Key Issues
Security: physical, emotional and financial, sit at the top of Maslow’s hierarchy of human needs. Situations that challenge your sense of personal security are therefore likely to create feelings of insecurity and discomfort, which is why many of us are reluctant to initiate conversations likely to start, or to become, difficult. The expectation that a […]
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