BCP – Say What?!?

The next CEO of your company should not be selected at the funeral parlor.

Have you asked these questions? If so, are you comfortable that you received candid answers?

Who?                                       Is critical to your success
What?                                      Makes your business competitive
When?                                      Are you planning to retire
Where?                                     Will you find the next owner
Why?                                       Did you start this business
How?                                       Will the transfer be funded

Two-thirds of family businesses in the United States are owned by the Boomer generation. They account for nearly three-fourths of all net new jobs created over the past 10 years. Only one in eight has begun the planning process to assure continued success for their business under new leadership.

This is not new, nor is it unique to this country. A few selected sayings:
Padre bodeguero, hijo caballero, nieto pordiosero. (Father merchant, son gentleman, grandson beggar.)
In China, Fu bu guo san dai. (Wealth never survives three generations.)
In Italy, Dalle stalle, alle stele, alle stalle. (From the stables to the stars and back to the stables.)

In the United States, only 15% of family businesses survive to the third generation.

Is that what you had in mind when you founded this enterprise or did you intend to create something bigger than yourself, a legacy for your family?

What’s holding you back? You can create and/or protect your legacy today.

Jim Peters

Peterspective

(317) 372-2304

The instant a private thought is communicated to another in any form, compromises begin to be made in the confidentiality, integrity and availability of the information shared. Yet the appropriate sharing of information is critical to the operation and success of every organization. The purpose of our relationship will be for me to assist with the safeguarding of the information critical to the continuation of your business. My role in our relationship will be similar to that of the sailor in the crow’s nest. I am not there to steer the ship nor am I there to read the compass or do soundings. I am there to keep a watch out for storms or pirates on the horizon and to keep an eye on the distant shore.

Speak Your Mind

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