Family Business Succession Planning

Family Business Succession Planning

Proven Step by Step Succession Strategies for Your Future

Realistic sound family business succession planning is one the most critical components to  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, the individuals, and  the families.

There are 4 critical areas that you will need to begin to  focus on. First  is a 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, 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, and  existing stakeholders and management to  help  clearly  identify company goals to assure a smooth future  transition. The Fourth and most critical part of Alternative Law’s processes 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 ?

  • Family Business Mediation Industry Leader
  • Created Best Ideas Win Solutions
  • Professional and Degreed Mediators and Consultants
  • Comprehensive One Stop Shop
  • An actual Family Business for over 30 years
  • Location in your areas, with No Travel time charges
  • Money Back Guarantee

As the industry leader in strategic  family business planning, if we have not delivered the services that we have promised, or you are not satisfied after attending 1-3 sessions, up to 8 hours in total, either or 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:

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In these fast paced times, family members need to thoroughly communicate, integrate and understand all of family members perspectives executives, colleagues,  as foundational elements of the future plan. Some  families can not immediately appreciate the indispensable nature of clear succession planning.  It is helpful that the succession plan is established and implemented well before it is necessary or as soon as possible.

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? What can make these situations even more challenging is that some key family members may often recognize the need for a realistic succession plan before others do and that can lead to conflict.

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

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 to 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, C-level executives, managers, and individual staff to ensure the plan is fully vetted – and also fully understood and communicated.

Just because someone appears to be the next in line does not mean that they are ready to run and organization or 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, the entirety of the knowledge; also, their level of commitment or devotion for the company may not satisfy some other family members. Even the best candidates or best leaders need the support of those within the organization and often times support from outside neutral  professionals – which is what we at Alternative Law specialize in.

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 implies that a successor will be chosen from within the family  – however, sometimes other solutions need to be considered. Company leaders need vetting, evaluation, review and approval before they can establish their future role. We offer a management training program to get the management  to understand the new business model and 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. The urgency of the matters should be considered and is sometimes not clearly understood. Too often we are faced with high intensity cases where something drastic has happened and its needs immediate attention. 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, participate and invest in the actual solutions. Together, we will  implement a proven guaranteed plan of action with  our family business teams, trusted network, and partners of family business succession colleagues.

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