Succession Planning for Family Business

Paving the Way for the Next Chapter in Family Business

Secure Your Legacy, Smoothly

Family business succession is the process of transitioning the management, leadership and ownership of a family-owned business from one generation to the next generation.

What is Succession Planning?

Succession planning is the process of identifying and developing next generation leaders to key positions in a family business to take over the managerial & ownership responsibilities from the current leaders. It ensures continuity of the business, helps to avoid conflict within the family and helps in preserving the family’s legacy.

For family enterprises, the process of transitioning from one family leader to the next can be a time of anxiety and uncertainty, excitement and optimism, or perhaps a combination of these and other emotions. In most cases, the fate of the transition is determined by how well the business, board, and family have prepared.

How to make an effective succession plan?

While most family business leaders have an informal succession plan, only a fraction of them have documented the plan and effectively communicated it to all parties involved. A smooth transition to the next generation requires planning far ahead of time to ensure you've selected the right candidates and can thoroughly prepare & mentor your successors.

A well-run family enterprise is grounded by a solid governance structure, which guides the business, the family, and ownership on many important matters, including generational succession. With good governance in place, confusion may be replaced with celebration as the family looks forward to ushering in the next generation of leadership

We work alongside family businesses to help them navigate this intricate process, creating an effective succession plan and offering insights into the practices of multiple family businesses on leadership development, wealth transfer strategies, and fostering open communication. Our goal is to preserve the family legacy while positioning the business for continued success across generations.

Next Generation Leadership in Family Business
Next Generation Leadership in Family Business
Challenges of Succession Planning
Challenges of Succession Planning
50% of family business leaders do not have a formal retirement plan.

(SPGC Reports)

70% of global family businesses do not have a formal succession plan.

(SPGC Reports)

Key Challenges of Succession Planning

Research shows that for effective succession planning in family businesses, leaders must address three critical gaps to ensure a smooth transition: the Generation Gap, Credibility Gap, and Communication Gap.

person walking in the desert
person walking in the desert
brown game pieces on white surface
brown game pieces on white surface
person in black pants walking on black and white concrete blocks
person in black pants walking on black and white concrete blocks

Fear of
losing control among the
Sr. generation

Diminishing Interest
of Next Generation

Ambiguity around Succession Process

Succession Planning Framework - Family Business

An effective succession plan for a family business includes the transition of management roles and responsibilities, as well as the transfer of family wealth from one generation to another. During the creation of a succession plan, we assist families in identifying their value system and developing a continuity plan that promotes transparency, regular communication, and a phased transfer. This preparation is aimed at ensuring the smooth transition for both the family and business stakeholders

Succession Planning Framework
Succession Planning Framework

Succession Planning in Family Business

Succession Plan

Transition of Business Responsibilities

Succession Plan

Transition of Family Wealth

Process of Succession Planning

With experience and insights gained from over 100 family businesses, our succession planning process focuses on the key stages of succession planning and looks after the interests of the current leadership (Sr. Generation leaders), next-generation leadership, family, and the business. The framework and process ensure clarity and a smooth transition of responsibilities from one generation to the next.

Readiness of the leader

Clarity on transition process & framework

Identifying potential successors

Assessment & Development of successors

Aligning family & business stakeholders

Identify New Roles for Sr. Gen

Benefits of Succession Planning

Family Harmony & Growth

  • Prevent Family conflict

  • Reduced risk of financial loss

  • Opportunity to Groom & Mentor Successor

  • Preserving Family Values ​​and Traditions

  • Promoting Entrepreneurial Spirit in Family Business

  • Shared Family Goals & Sense of Purpose

  • Encourage Family to Stay Together and Share Family Bonds

Business Longevity

  • Business Continuity & Long - Term Legacy

  • Retention of business knowledge and skills

  • Enhanced capabilities of Next Generation Leaders

  • Build Trust among stakeholders

  • Enhanced business performance

  • Increased Employee Morale

  • Informed decision making

  • Opportunity to infuse fresh thinking

brown wooden house on lake
brown wooden house on lake

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“Other things may change, but we start and end with the family.” –Anthony Brandt

Our mission

We believe in the institution of family to nurture values based leadership.

Our mission is to inspire business families to develop capable & generous business leaders & their next generation who can lead our communities with strong values.

Our vision

  • Serve 1,000 family businesses by 2028

  • Serve 25,000 family businesses by 2040

Our expertise

  • Creating a safe space of effective communication

  • Insights from 600+ family businesses

  • Delivered by Family Business Practitioner

  • Implementation focused

  • High impact interventions

  • Customised development process for your needs in family & business