“Rags to riches to rags in three generations?” You have something else in mind? The Beringer Group has identified some Key Success Indicators for your consideration.
- Identify future leaders from within and outside the family
- Find leaders early and invest in them
- Approach CEO succession proactively
- Preserve an enduring sense of clearly defined family values
- Establish a governance baseline
- Assure company and family mission and policies are aligned
- Unite behind a common vision for the future of the company
- Timely implement any needed reorganization of management structure
- Prepare the company to manage organizational change
Sustaining a business across multiple generations presents complex challenges but can be very successful with the proper leadership planning and foresight.
The Beringer Group is a nationally recognized thought leader in advanced business transition planning. The private business and family enterprise has been our core clientele since 1979.