LGA Lighthouse - Guiding Family Business Continuity How can business families avoid the succession conspiracy?
Mar 24, 2021
The podcast explores the challenges of succession planning in family businesses and the importance of systemic solutions. It compares the drop-off and handoff models of succession, emphasizing the need for clear definitions and open conversations. The episode also highlights the risks of not planning properly and discusses the challenges faced by senior leaders in handing over their businesses.
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Succession Is Multi-Dimensional
- Succession touches leadership, ownership, and family responsibilities simultaneously.
- Treat succession as a multi-dimensional problem, not a single event.
Ivan's Personal Entry Into The Field
- Ivan Lansberg recounts researching family business continuity during college after seeing issues in his own family.
- He found family firms were common yet little-studied and many did not survive intergenerationally.
The Succession Conspiracy Concept
- The 'succession conspiracy' describes many unseen forces that delay planning.
- Naming these forces lets families spot and counteract them deliberately.