Unlocking Family Business Success: Succession Insights for the Rising Gen
In a recent episode of Succession Stories, hosted by Laurie Barkman, Wingspan partner Maryann Bell shares essential strategies for ensuring a smooth transition of leadership to the Rising Gen in family businesses.
Key Highlights:
•Myth-Busting: Maryann challenges the “shirt sleeves to shirt sleeves” myth, demonstrating that with proper planning, family businesses can thrive across generations.
•Early Succession Planning: Learn why starting the conversation early is crucial and how to navigate the uncertainties of succession.
•Engagement & Education: Maryann emphasizes the importance of engaging the Rising Gen early on and the value of gaining external experience before stepping into leadership roles.
•Professional Governance: The episode delves into the benefits of advisory boards, providing valuable external perspectives to guide family businesses through transitions.
•Respectful Power Shifts: Hear about successful examples where founders transition into advisory roles, allowing the Rising Gen to lead with innovation and fresh strategies.
This episode is filled with actionable insights for family businesses aiming to build a strong foundation for the future. Don’t miss out—listen now to equip your family with the tools needed for a successful transition.
Listen to the full episode on Succession Stories with Laurie Barkman HERE or on YouTube.
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