Your Turn—Family Business Edition
Developing Successors, Orchestrating Transitions & Executing Business Continuity Plans
Succession (already tricky business) is multiples trickier in family businesses.
Most family businesses began simply enough. In the words of one of our favorite clients, “35 years ago with a notepad and one telephone that, in a good week, would actually ring a time or two.” When run right, family businesses that began humbly enough actually set the standard for personal attention, quality service, and product reliability. They remain, century after century, pillars of the greatest and most progressive and successful civilizations. Excluding socialist countries, between 75% and 90% of the world’s business is carried on by family companies. As scholar William O’Hara writes in his landmark book, Centuries of Success, “Before the multinational corporation, there was family business. Before the Industrial Revolution, there was family business. Before the enlightenment of Greece and the empire of Rome, there was family business.” Indeed, while only 77 of the 1955 Fortune 500 have remained independent, approximately 20,000,000 family businesses of significant size and revenue are thriving worldwide.
But the family business is not without its perils. Between the first and second generation, only about 1/3 of family businesses survive, and of those, only 12% reach a third generation. An exclusive 3% to 4% of third generation survivors make it to a fourth. Alone, these are sobering statistics, and even more so considering that “the biggest intergenerational transfer of wealth” in US history is occurring right now and in immediate decades. Economist Robert Avery predicts there will be a $10.4 trillion net-worth transfer between generations by the year 2040. This transfer telegraphs a major shift, as the subsequent generations are less traditional and exceedingly adventurous. The landscape of management teams, co-CEOs, the role of influential advisors, governance, and advisory boards is changing forever.
Are you ready for this? If you are, you’re the exception to the rule.
If your family business means a great deal to you, and you and those succeeding you might like to see it continue, then join us for Your Turn: Family Business Edition to explore your company through our lens in an effort to not only see it survive you, but to perhaps even flourish and thrive for generations to come. It’s really tough to see one’s baby objectively, but the day you stop working FOR your business or IN your business and start working ON your business is the day you graduate to leader.
Your Turn—Family Business Edition Volumes Include
Volume 1:
Positive Intent—Temperature Checked & Interest Gauged
Volume 2:
More Than an Idea
Volume 3:
One Wet Toe—Feelings, Family Dynamics, Forces, Fans & Foes
Volume 4:
Getting Real—Crucial Conversations
Volume 5:
Beyond the Rubicon—Undiscussables, Sacred Cows & Really Tough Love
Volume 6:
Going Wide—Multi-Party SWOT Analysis
Volume 7:
Beliefs, Biases, Paradigms & Tenets
Volume 8:
Future, Direction & Vision
Volume 9:
Safe Talk—Lingering Heart Issues & Money Matters
Volume 10:
Internal Structures, Processes & Procedures
Volume 11:
External Segmentation & Service
Volume 12:
People, Attraction, Recruitment, Onboarding, Inclusion & Collaboration, Diversity, Promotion, Pay for Performance, Retention & Growth
Volume 13:
Deciders, Distribution of Power & Board of Directors
Volume 14:
Meritocracy—Excellence, Exemplification & Fairness
Volume 15:
From Scorecards to Succession
Volume 16:
Parting Shots & Final Words
Volume 17:
Promise-Keeping thru Continuity
Components
Slides
Lecture
Workshop
Facilitated Dialogues
Printed Workbook(s)
Audience(s)
Full, partial, or future owners in family businesses interested in peace, legacy, succession, transfer of wealth, and business continuity.
Duration(s)
One 3-day workshop (followed by coaching and follow-up as needed, billed separately).
Investment/Range
$5,250/pp. (Multi-participant and multi-volume bundles available. Contact a Program Advisor for details.)
Format(s)
Live Online
In Person
Blended Learning
Leath Learning Pillar(s) this Solution Supports
Leadership
Strategy
Change
Culture
Communication
Faculty
Blake Leath
Joe Brouillette
TBD
Available upon request.
Contact a Program Advisor
to request a date or more information
by emailing learning@leathgroup.com.
READY TO ROLL? IT’S AS EASY AS 1, 2, 3!
What’s Next?
After you either contact us or complete your application form, a Program Advisor will be your passport to participation, but should you have any questions regarding deferrals, substitutions, cancellations, refunds, credits, or attendance, please see our FAQs or Policies.
We look forward to hosting you and supporting your ongoing leadership development.
Thank you for your trust in us.