This is an intereting article in Entreprenuer.com by Katie Murphy, a new Conway Center member and founder of Expansion Group. Fractional executives might be a good solution for family businesses that do not have a clear succession plan…yet. If you have a complex strategic initiative with an end date like the one I oversaw, this […]
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What’s the secret to an effective succession plan for your family business? There really isn’t a straightforward answer. The Conway Center for Family Business has helped many businesses through succession planning challenges, and one thing is for certain – no two businesses are alike. Differences in family dynamics, interpersonal relationships, preparedness, non-family employee input, and
Featuring:Dr. Thaddeus O’Brien, O’Brien & AssociatesTobi Gold, Skilken Gold Real Estate DevelopmentFritz Reitter, Reitter Stucco & Supply Co. Inc.Kevin Schoedinger, Schoedinger Funeral and Cremation Service Understanding Generational Issues in Family Business The generations that launched many of our family businesses are living longer, resulting in more generations being involved in family business at the same
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Seven In Ten Advisors Say Navigating Interfamily Dynamics Is The Hardest Part Of Estate Planning For HNW Families Key Private Bank’s Advisor Poll found that having no plan in place is the leading estate planning mistake Key Private Bank, the wealth management arm of KeyCorp (NYSE: KEY), released the results of its latest advisor poll,
As a business owner, you’ve devoted your career to building your company. Now is the time to plan for what comes next: spending more time with your family and pursuing new challenges. But, how do you prepare for a transition that is among the most complex events of your life? Creating and growing a successful
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Join us on November 14 to celebrate these outstanding family businesses! Community Engagement Happy Chicken Farms Family Business of the Year Kimball Midwest Lifetime Achievement Dr. John Swartz, Lakeshore Cryotronics Milestone Awards 1 millionth ticket – Easy IT 15 years – Environmental Pest Management 25 years in Central Ohio – Hylant 25 years – Integrated
And the winner is…. Read More »
Succession Planning: Not Just for Retirement from Driscoll Learning — Succession has commonly been thought of as for the purpose of retirement. While true, it is also a way that you can open your company up for a new opportunity. Every business should have a succession plan in order to carry on into the future.
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Family business owners are notoriously bad when it comes to estate planning. Too many demands and busy seasons are often cited as reasons to put it off, but as much as we don’t want to think about our own mortality or the painful loss of loved ones, there are numerous advantages to advanced planning. A
Bea’s Blog: Planning for Loss and Establishing your Family Business Legacy Read More »
Procrastination – to put off INTENTIONALLY the doing of something that should be done. We’re all guilty of this form of avoidance behavior, often giving in to feeling good now by delaying the task to do later. Family business owners often procrastinate when it comes to planning their estate, but doing so can be a
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When you hear the words “succession planning”, what comes to mind? In most family-owned businesses, succession planning primarily focuses on developing the next generation of leaders, but what if there was more to it? Finding that next generation leader is a challenge and makes succession planning an essential exercise in the survivability of the business
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