Family Business Succession Planning

Proven Step by Step Succession Strategies for Your Future

Realistic sound family business succession planning is a critical components that assure the present and future success of the organization. A smooth transition is fundamental to sound strategic planning for the continued health of both the business, individuals and families.

There are 4 critical areas that you will need to begin to focus on.

• Presentation of a detailed honest evaluation of the present state of the business, the key personnel, family and board members.
• Second, you need to honestly evaluate and analyze the historical performance. Evaluate projections and budgets and actively listen to an outside perspectives, in detail.
• Third, working with the family, we present  specific plans and time lines  to satisfy your  needs. We work with the family, owners, existing stakeholders and management . Our mediators help to clearly  identify company goals to assure a smooth future  transition.
• The Fourth and most critical part of Alternative Law’s processes is unlike most other companies. We are a family business that has been practicing succession planning for 25 years and we guarantee our work.

Why Alternative Law?

We are the industry leader in strategic family business planning. If we have not delivered services as promised, or you are not satisfied after attending 1-3 sessions. Nor in sessions up to 8 hours in total, on the phone or in person, you are entitled to receive receive your money back in full. No other firm in the country offers this guarantee.

Specific Generation Plans

• Strategic Business Systems
• Family Business Resolution Meetings
• Priority Issue Assessment
• Generational Family Phased Planning
• Management Controls
• Conflict Prevention and Resolution Model Programs
• Money Back Guarantee
• Detailed Succession Plans
• Best Ideas Win Program
• Stock Ownership, shares and control
• Inheritance Shares
• Board and Advisory meetings
• Financial and Wealth Management
• Fair Asset divisions and distributions
• Multi-Level Family Trust and Estate Plans
• Executive Coaching
• Management Training

Family Business Succession Planning:

In these fast paced times, family members need to thoroughly communicate, integrate and understand. Understand all perspectives of family members, executives, colleagues, as foundational elements of the future plan. Some  families can not immediately appreciate the indispensable nature of clear succession planning. Establishing a succession plan early, ideally well before it’s necessary, proves helpful.

Running the day to day operations of the company are stressful and busy enough. Who has the time to make contingency plans for key personnel? At times, these can be challenging. Some key family members may often recognize the need for a realistic succession plan before others do. That can lead to conflict.

Legitimate concerns about the future, of the team, the family, and the organization can cause compounding issues. The issues then reverberate throughout the company. It can be challenging to directly face change head-on. It’s even more difficult when these changes involve related parties such as owners, family members, and officers of the company.

Strategies for Future Success

Designing and developing the best strategic approaches– while it can be relatively straightforward, is often difficult to enact and practice. Making changes at these important levels can cause family conflict concern and anxiety. There will be some that are resistant to the change and others will be excited for it. Regardless with our experts, we will work together, to plan, and communicate for the succession plans to be successful.

Under our ‘Best Ideas Win’ approach to problem solving, this is accomplished through private and group meetings. We examine the most appropriate decisions and ideas that are particularly suited to your organization. We work with the families, the Board of Advisors, or Directors if you have one. Also, our mediators work with C-level executives, managers, and individual staff. We fully vet the plan, ensuring thorough understanding and communication.

Just because one is the next in line, it doesn’t mean they are ready to run and organize a department. Relatively speaking, there are few people that could step in and completely  fill the shoes of the actual business-founder. They may lack the experience and the entirety of the knowledge. Or, their level of commitment or devotion for the company may not satisfy all family members. Even the best candidates or leaders need the support of those within the organization. Often, they support from outside neutral  professionals – which is what we at Alternative Law specialize in.

We Help in Every Stage of the Process

We will assist and advise you systematically through each step of the selection process for evaluating hiring, promoting and training.  Who to choose: an internal or external candidate. The family business succession planning process usually entails choosing a successor from within the family. However,sometimes, we need to consider other solutions. Company leaders need vetting, evaluation, review and approval before they can establish their future role. We offer a management training program that gets management up to speed on new business models. Also on what they can expect to change and how it will affect them.

The first step is setting up the initial consultation, which is completely complementary. We must consider the urgency of the matters, which sometimes lacks clarity. Too often, we confront high-intensity cases demanding immediate attention due to drastic events. Emotions are high, conflict is ripe, and escalation is increasing. While calling us before the situation is a dire emergency is more ideal. But, we understand that is not always practical or possible. Our plans and mediators will provide immediate attention, systematic planning, and the comprehensive resolution your family owned business deserves.

Well before and even as complications arise, all invested parties work to agree on the best ideas. They participate and invest in the actual solutions. Together, we implement a proven guaranteed plan of action with our family business teams. We implement it with the trusted networks, and partners of family business succession colleagues.

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