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Articles tagged: Succession Planning

Sharing Tribal Knowledge in the Workplace

Why Managers Must Seize, Retain and Share Tribal Knowledge in the Workplace

Your employees’ undocumented knowledge and experience leaves with them. What is the cost of not keeping tribal knowledge in the workplace?

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Three Circle Model

Revisiting the Three Circle Model of Family Business to Strengthen Governance Structures

It’s been 40 years since Gersick introduced the Three Circle Model for Family Business. How can you assess governance maturity in each circle?

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family preparing food in the kitchen, representing how to create a Family Charter

How to Create a Family Business Charter

Successful family businesses often create a Family Charter or Family Business Constitution—a written agreement to guide decisions on boards, succession, hiring and more.

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welder at work, representing making bad business decisions

Not Making Business Decisions = Making Bad Business Decisions

When Werner Co. faces growing pains, its president avoids making business decisions that could jeopardize the company—but his inaction is still a decision.

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a small business owner cuts cloth and working hours in semi-retirement

Small Business Transitions: Semi Retirement for Entrepreneurs

Before small business owner Jan can improve her life and work balance and enter semi retirement, she must prepare her business to run independently.

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Someone's hand signs a business sale contract after finding the perfect business buyer

How to Find the Right Business Buyer for Your Company

What kind of business buyer should you approach to sell your business? Find out where to meet financial, strategic and operator buyers.

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family walking, symbolizing family succession planning

How Family Business Succession Planning Becomes Succession Implementation

Family business succession planning requires discussions about ownership, leadership, payment and other issues to smoothly transition from Gen 1 to Gen 2. 

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Two business owners discuss the planning and staging of their business transition

Planning and Staging a Company for Transition

Are you planning to sell your business or otherwise transition its leadership? Here’s how to plan and stage your company for transitioning at maximum value.

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family business roles and responsibilities

Protect Your Family Business with Smart Succession Planning

Clarifying Roles and Responsibilities for Smooth Transitions In family business, a succession plan guarantees continuity. It ensures a smooth transition of leadership so that the business can carry on. Where no succession plan exists, the risk of turbulence and conflict is high. Creating a succession plan is a fairly straightforward but necessary task. It details […]

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