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Business Succession

in an Environment of Accelerating Change We Need To Think Differently about Business Succession

The Truth About Business Succession

The latest Research tells a concerning story:

  • Only 19% of family businesses have successfully transitioned to the second generation (the last 5 years – PWC)
  • Globally only 24% of family businesses are focused on the next generation, or any transition of ownership (PWC 2021)
  • The failure to properly position, train and develop the next generation take on added responsibility and empowerment, will almost always result in failure to successfully transition a family business (HBR 2022)
  • The same applies to both family of non-family businesses (HBR 2022)

 

Business Succession The Think Differently Way

Succession has had a bad rap of late!  The TV programme of the same name gave a wonderful example of how not to do it.  At Think Differently we understand the importance of planning for future ownership transitions – whether your business is family owned or not.  When owners and leaders are focusing on the rigours of survival, growth, staff, profit and all the myriad of challenges that can come your way, Succession Planning is always something that can be seen as some distant, non-urgent event, that we will get to sometime.  If this is you, talk to one of our Coaches.  Be prepared – successful Succession is hard, otherwise everyone would be doing it (and we know they’re not).  Time accelerates as you grow older – we know that!  Talk to us now so you can have the time and opportunity to properly transition your life’s work, or your last decades work, and watch your baby continue to thrive without you, and enjoy smelling more flowers.  

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If you’re ready to take your business to the next level, get in touch with us today at 021 431990. The Think Differently team is passionate about Business Success and is ready to work with you today. 

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