Succession Planning

Succession is the ultimate test of a family business.

• More than 70% of family businesses do not survive to a second generation
• More than 90% do not survive to the third generation
• Approximately 66% of CEOs who report they plan to retire in the next 6-10 years have not identified a successor

The best succession plans:

• Begin well in advance of the retirement of the current generation
• Involve the family in the process
• Result in a blueprint for the business that outlines its future direction
• Involve a transparent and objective process of identifying the next generation of leaders
• Provide time for the next generation of leaders to assume leadership roles in a step-wise fashion
• Create a plan for transition that includes the impact on roles, status and relationships as ownership/leadership change
• Address transfer of power
• Address transfer of assets

Jensen Consulting brings the experience and skills to address both the practical and emotional questions raised by succession.