Succession Planning for Family Businesses
Preparing for the Next Generation
Michael, A. Lobraico, Jonathan Isaacs, and Mitchell Singer
Whether big or small, global or local, family businesses are the engine of wealth and security for owners, families, employees, and business as a whole. But as this book shows, that engine can easily break down:
- If the family, ownership, and business circles related to the business fail to hold regular and candid conversations that clarify ownership’s intent for the business and the rules for family members’ ownership of and employment in the company
- And if the business fails to run itself on solid, independent business principles
Using an entertaining case study of a composite company, Blooms Floral, the authors coach readers in how to conduct these conversations to ensure that future generations of their family business not only survive, but thrive.