Is there such a thing as a successful family business transition?
In Putting Yourself Before Your Successor, Danielle Fracchia contends yes, but only with adequate self-preparation. Written in a reflective yet direct style, Danielle offers practical strategies family business owners can adopt to prepare and position themselves before they step aside.
‘Family business succession is more difficult, complex, and lengthier than in other environments’, Danielle says. ‘The deep emotional investments into one’s business result in the process taking years, with owners rarely moving into equally satisfying roles.’
For a transition to be successful, two continuities need to be managed. The first is self-continuity. The second is organisational continuity. While consulting to family business owners, Danielle discovered that the success of a transition relies more on intangible factors, such as emotions and willingness to change, than tangible factors, such as plans and constitutions.
Putting Yourself Before Your Successor helps those to be succeeded immerse themselves in their succession planning process. It helps them to incrementally relinquish their current responsibilities and gracefully step aside into a new envisioned post-transition reality equipped with a definitive purpose and direction.
Addressed to large family business owners, Putting Yourself Before Your Successor reinforces that you are the only one who can lead your succession planning and transition process, and gives you the confidence to start today.
Before Your Successor
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