October 30, 2023 - The Truth About Succession
Family Business United is delighted to be hosting a Succession Planning masterclass as part of the programme for the 2023 Global Family Business Summit.
Allie Taylor of Orange Kiwi works with closely held and family business owners to help them navigate their transition journeys through scale, sale, or succession to see business legacies that are expanded, revitalized, and/or transitioned to the next generation.
The truth about succession - It’s hard. Navigating the intricate path of family business succession reveals a paradox: the process is challenging not due to its technical aspects, but rather due to its soft and complex nature.
Unlike leadership transition in non-family businesses, family business succession involves a tangle of emotional ties, intergenerational dynamics, and personal histories that can significantly impact the transition. Emotional attachments, unspoken expectations, diverging ambitions, power dynamics, trust, communication, and shared values come to the forefront, underscoring that success hinges on the delicate interpersonal relationships as much as fiscal strategies.
Recognizing this duality of challenges – where the “soft” aspects are as crucial as the concrete – sheds light on the true essence of family business succession and points towards a more holistic and nuanced approach. The ugliest truth is that well-meaning advisors, skilled in the silo of their own discipline, inadvertently introduce additional complexity and competing priorities. It doesn’t have to be this way! Family businesses that achieve a successful transition of operational management and ownership pay careful attention to the developing “soft side” strengths in the family and the business.
Allie brings a powerful combination of psychological understanding, academic research, and hands-on business experience to her work with business owners, boards, advisors, family members, and management teams.
Allie’s dissertation research on the psychology of owners at points of significant transition led to Orange Kiwi’s revolutionary approach and validated psychometric assessment. Allie is passionate about constructively disrupting the family business ecosystem to increase the number of successful successions. Her experience as a family business owner and an advisor to successful owners combined with rigorous academic research allows her to help clients achieve the clarity, confidence, and control they need when it matters most, at points of significant transition.
In this session they take the topic of succession and dispel some of the myths surrounding the process and share their insights on how to increase the chances of making the process of transition a success.
Join us to discover:
The unique psychological attributes of entrepreneurial families and how they impact succession.
Which succession pitfalls are more or less likely to impact your family business.
What you can do today to improve the odds of a successful succession.
Find out more and book your tickets to join us here