The Top 2 Reasons Family Business Succession Plans Fall Apart
Over 50% of succession plans fall apart and fail… This has been documented time and time again. So WHY do succession plans fail and what can you do about it? In my work with family business clients I have found two things to be true for most failed succession plans. 1. Lack of Vision and Values Alignment Many organizations have not taken the crucial step of not only mapping out the vision and values of the organization, but then doing the same for the family and the individual members of the family. Most often this leads to family members or other individuals working in the organizations who have a vision of where they want their life to go …