Many owners of family businesses dream of passing the torch to their next generation, but only about thirty percent will realize that goal. In Secrets to Succession, family business owner Gerard Gust opens the door to reveal how he and his father dodged the grim statistics to make sure their company would survive the transition. The key was finding a way to lead, govern, and work together as the lines between parent and child, boss and employee, were blurred, stressed, and tested.
After working in his family business for almost twenty years, Gust gained an in-depth look at the dynamics of family relationships and the succession process. That knowledge inspired him to develop a strategy called the PIE method that shows exiting owner and successor how to increase their chances of a successful transition.
As Gust journeys through that process, from challenge and setback to achievement and success, he reflects on his own experience with humour and honesty. Throughout he offers practical advice to help current owners and successors navigate the struggles that family businesses face during a transition. Secrets to Succession is an indispensable guide to the inner workings of a successful family business transition from beginning to end.
|Product dimensions:||5.50(w) x 8.50(h) x 0.47(d)|
Table of Contents
Chapter 1: The Challenges of Succession
Part One: P Is for Priming
Chapter 2: Priming the Ownership
Chapter 3: Priming the Successor
Chapter 4: Priming the Business
Part Two: I Is for Implementation
Chapter 5: Developing the Transition Plan
Chapter 6: The Transition Team
Chapter 7: The Shareholders’ Agreement
Chapter 8: Making the Deal
Part Three: E Is for Ensuring Success
Chapter 9: Supporting the Successor
Chapter 10: Letting Go
Chapter 11: Managing Conflict
Chapter 12: Enjoy the Journey
Conclusion: Achieving Transition Success
Afterword by Robert Wolfe