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Session 15: Considerations for family succession

Session Quiz

  1. What percentage of family businesses ever make it to the second generation?
    2.

  2. What percentage of businesses have put together a succession plan?

  3. To implement a succession plan you will find it:

  4. Life insurance matters should not be mixed with succession planning.

  5. It is a common and wise practice to separate business assets from family assets.

  6. When dealing with family members it is wise to:

  7. It is not a good idea to have family members on the succession advisory board.

  8. It could be fair for family members not active in the business to receive family assets if those in the company received shares.

  9. It is not a good idea to keep children from working in the business until they graduate from high school.

  10. It would be a good idea for you to depend on the business for ongoing income after turning the business over to your children.
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Getting financial controls in place | Getting your team in place | Customer feedback | Achieving lowest expenses | Develop negotiating skills | Alternatives for capital allocation | E-commerce | Growth by duplication | Vertical integration | Franchising your business | Global expansion | Buying businesses | Public ownership | Selling your business | Considerations for family succession

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