Succession Planning Archives

Advice for Securing Your First Board Seat

January 17, 2022
/ Business Owners & Executives
/ By Bruce Werner

Tags: Advisors, Business Leadership, Business Management, Family Businesses, Fiduciary Duties & Corps, Succession Planning,

Obtaining a board seat was already difficult but has become more challenging over the years because of how highly competitive it is. Find out what steps you can take to best prepare yourself.

planning and staging a company for a transition

Planning and Staging a Company for Transition

Tags: Business Planning, Business Transition and Exit Planning, Retirement, Selling Your Business, Succession Planning,

How do you prepare your company for a transition? Thinking ahead before you sell your company or pass it on to a family will help maximize your profits and prepare your business for the change. Discover what you need to know before developing a business transition plan.

private company board of directors meeting

What is the ROI for a Private Company Board of Directors?

Tags: Business Leadership, Business Management, Financial Management, Succession Planning,

The value of a high-performing board of directors is obvious to a business owner when the process is well managed. Identify the different ways to create an effective board of directors that will strengthen your company.

Surviving the Second Generation: Discussions You Need to Have Before Family Business Transitions

Tags: Business Leadership, Business Transition and Exit Planning, Estate Planning & Asset Protection, Family Business, Family Dynamics, Small Business, Succession Planning,

Many family businesses don’t survive into a third generation. Strong quarterly communication can aid family business transitions.

STEP, KPMG Study: Global Family Business Governance Trends

Tags: Business Leadership, Family Business, Fiduciary Duties & Corporate Governance, Millennials, Retirement, Succession Planning,

Here’s what the STEP survey on global family business trends reveals about governance, Millennial leadership, diversity and retirement.

Sharing Tribal Knowledge in the Workplace

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

Tags: Business Management, Employment & Labor Dynamics, Retirement, Succession Planning,

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

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

February 10, 2021
/ Business Owners & Executives
/ By Bruce Werner

Tags: Business Management, Family Business, Family Dynamics, Fiduciary Duties & Corporate Governance, Succession Planning,

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

As Leaders Age and the Unexpected Strikes, Developing a Succession Plan is Mission Critical

Tags: Business Leadership, Business Management, Business Transition and Exit Planning, Family Business, Selling Your Business, Small Business, Succession Planning,

The average S&P CEO is 58. Are businesses ready for transition? Developing a succession plan should be on every company’s agenda early on.

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

How to Create a Family Business Charter

Tags: Family Business, Family Dynamics, Succession Planning,

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

welder at work, representing making bad business decisions

Not Making Business Decisions = Making Bad Business Decisions

Tags: Business Leadership, Family Business, Small Business, Succession Planning,

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

Articles tagged: Succession Planning