#AGLEGACY #FarmSuccession #EstatePlanning
Factors most important to the longevity of the family business also relate to sharing power.
AGLEGACY can help: AGLEGACY.org
POWER can equate to influence. In this case, influence on the family business. Is it possible to share power or influence over a business?
The concepts that families use to empower children can also apply to families looking for ways to prepare the next generation to take over leadership –
Respect me: Take family members seriously
Include me: Involve them in decision making
Collaborate: Work together to solve problems
Let me lead: Create opportunities for the next generation to take the lead on projects.