Laura and Venita recently worked together to write an article for the Houston Business Journal. In this article they address the need for comprehensive planning to successfully transition a family business across generations.
Growing up, we probably all remember being coached that discussions involving money, religion, and politics were out of bounds. Even as adults, lingering discomfort may take hold when even thinking about conducting a discussion on one of these topics. For business-owning families interested in transitioning the business from one generation to the next, discussions of financial matters are just the start of the uncomfortable topics that must be broached. As such, many families avoid these essential discussions until it may be too late to effectively transition their business within the family.
Read the entire article here:
What you should know about succession planning for your company
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