Succession Planning

Succession Planning The research indicates that about 54 percent businesses close down, split or change hands during the founder’s generation. Only 3 to 4 percent businesses survive beyond the third generation. The prime cause of the short life-span is lack of generational sustenance. Business founders and promoters often shy away from addressing the reality of “what will happen to the business after I am not around”?

We understand the dilemma, uncertainty, and inconvenience associated with Succession Planning and leadership transition. Our guidance helps owner-families to plan and prepare for future, address the issues of ownership structure, management control by the family and/or non-family executives, grooming of successors, family’s welfare and wealth management.

Ownership Succession

For the families in business desirous of keeping the business ownership and control within the family, we help in devising a succession strategy based on the family’s size, structure, and intention. Succession situation is unique to each business owning family. There may be several successors from a single family and/or partner families ready to receive the leadership baton, or there may be none. There may be business forces impacting succession decisions.

We conduct an independent, confidential assessment of the family’s perceptions, leadership needs, and business conditions prior to planning succession. Our hand holding leads to a consensus based succession plan, keeping both, the business challenges and well being of the family in focus.

Management Succession

Planning for management succession starts with professionalizing the organizational structure. We study the organization, ownership model and recommend the process of succession planning at operational, strategic, and Board level. We help the leaders to identify and recruit potential successors through our unique process.

Management succession is about leadership, performance, and rewards. It is allowing non-family executives to take charge and control the bsuienss. The objective of management succession is to take the business to the new heights and enhance profitability and prosperity.

Preparing Successors

We play a significant role for our client family businesses in developing successors from within the family and non-family outsiders. Through our intense experience with family businesses and next-gen members, we plan and implement customized Succession development and leadership enrichment programs.

Transition to Transformation

  • Synchronize family aspirations, values, roles
  • Enrich next-gen leadership, professionalization
  • Inculcate family governance for best practices
  • Balance family, ownership, control dynamics

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