Pain is Unavoidable; Suffering is Optional (In Family Business Succession)

Over 20+ years of helping hundreds of family-owned businesses navigate the roiling waters of succession planning, our merry band of RED Team execs has learned the Buddhist truth: pain is unavoidable. Both in life, and in family business. But I also know one other thing: family business issues do not have to turn into all-out warfare.

In this quick 7-minute video that we also highlight on our blog, we take a look at the different kinds of families (from those that love one another and want to do right by each other to those already fighting bloody battles) and discuss how to survive succession conflict:

Here are the video highlights:

1. Regardless of your family relationships, the succession process could involve pain, because while love can be the be-all end-all when it comes to family, results are a vital necessity in business. Your confidence and clarity go up while navigating the process with the help of a professional team.
2. No matter how big or small your company, the gig economy means you can afford to hire the resources you need as you work through the succession process.
3. Objective third parties and outside expertise can be the key to seeing the problems clearly, reducing reactivity, mediating the differences, and arriving at great solutions.?

If you’re thinking of how to better manage business succession and resolve potential conflict in your company, we’re here, ready to discuss what’s going on and see if the right solution includes an interim or fractional executive with a proven track record of helping other family businesses work through these issues.

#familybusiness #successionplanning #interimexecutives