Galliard Family Business Advisor Institute
“I feel like I’m molting,” I found myself saying to a friend earlier this week. Have you ever experienced that—you experience so many big changes in a compressed time period, that you feel like you’ve shed a layer of skin, or maybe two or three?
……“I’ve often talked about how important ritual is in providing a foundation – a foundation from which we can then change if we wish to.”
Jake was so excited—an offer had come across his desk, by way of his attorney, that fulfilled most of his wishlist! The investor company said all the right things: they believed in the mission and vision, wanted to keep the employees in place and would keep the business operating from the small town where Jake was born and raised. His Dad had given his life to this business and while Jake wasn’t as willing to devote his every waking moment to Sandstone Industries, at least he wanted to see his father’s legacy live on.
…Help your clients to stop agonizing and start taking action to transition “problem employees” out of their organizations.
…What to do when parents have clear favorites.
…Webinar Recording: “Leadership Transition: The Good, The Bad and The Ugly,” presented by Scott Phillips, TruNorth Partners.
…Change is hard. It is often the harbinger of stress, confusion, aimlessness, and at its worst—anarchy amongst employees. Change can also be a life-giver, a refresh button, a savior to a dying organization, and the only way back to success or even functionality.
…A strategic way for private and family-owned companies to implement succession and sale strategies is through utilizing Employee Stock Ownership Plans (ESOPs). With this method, the unique goals of the owners and company serve to focus our approach, as we assess, structure, and implement transactions for our clients.
…I have learned that this is not a state that one can create entirely independently. Rather, it is a delicate dance between willing, caring, compassionate co-creators of a social contract. I have seen rare, but beautiful examples such as one memorable afternoon in a small San Francisco diner.
…Historically community banks haven’t embraced their role in addressing the opportunities and challenges in ownership and management transition for family-owned and closely-held businesses. Rather than continuing to stand at arm’s length, there are several issues that community bankers need to take into consideration that would benefit their business clients and could mean new business opportunities for the bank itself:
…A series of videos from the GFBAI archives:
As a business evolves and grows, the roles and expectations of managers, including owners, begins to shift. However, in many cases, this simply happens by default, with little or no discussion. Problems can arise when expectations differ and when people don’t perform in a way that is consistent with expectations.
…If someone told you that about half the people who run half of America’s most active and inventive businesses will retire in the next four years, would you care? You should.
…As small business owners, we’ve all had the knock at the door or the call from a ‘friend’ who tells you that they ‘do’ succession planning and can find you a buyer for your business. I recently had an interesting conversation with a business broker who assured me that she “did succession planning” with her clients.
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