Succession fireside chat series
Questions about business succession? We’ve got the answers.
Are you curious to know the most common hurdles and frequent questions our succession experts are helping clients resolve every day? Join us for a series of informal fireside chats, where we unpack and discuss the universal challenges and struggles of succession.
-
Take the ExitSMART™ Assessment
Is your succession planning on the right track? Find out with our ExitSMART™ assessment tool.
Chat #1: How do family businesses or business families make good decisions?
Join succession advisors Lynne Fisher and Eben Louw as they discuss how your family business can overcome the barriers, complexities, and biases that prevent good decision-making. When it comes to succession, finding the right decision that aligns with your goals and values is more important than the quickest or least expensive.
Chat #2: What compensation structures exist and what works best for my family?
Proper handling of compensation structures is crucial for family businesses, as mishandling them can negatively impact relationships and values. In support of this, MNP's succession advisors, Lynne Fisher, Eben Louw, and Steve Ivacko, advocate for implementing fair and equitable pay structures for family members and provide guidance on how to define them.
Chat #3: Is there a specific time when it is easier to sell the business?
When is the right time and what are the right reasons to sell your business? MNP's Corporate Finance advisor, Craig Maloney, and Succession advisor, Eben Louw, provide guidance to business owners on the optimal timing and reasons to sell their business. They address common concerns and provide insights on how to approach readiness for a sale.
Chat #4: What is the best way to prepare the next generation?
While children of family business owners may feel prepared to take over the business in an informal setting, this may not always be enough. A structured approach to transitioning the business and adequately equipping successors who were not previously involved is necessary. MNP's succession advisors, Lynne Fisher, Eben Louw, and Steve Ivacko delve into this topic and more in their discussions on effective succession planning.
Chat #5: How do business families deal with conflict? Part 1 – Key themes when helping business families
Conflict is a normal part of interpersonal relationships, but it can lead to sensitivities and no-go areas in the context of business families. Conflict resolution expert, John Radford joins MNP’s succession advisors, in the first episode of our Succession Fireside Chats, to explore recurring themes when helping business families through the succession process
Chat #6: How do business families deal with conflict? Part 2 - Is the succession process linear & what factors change the succession process?
In this episode, MNP’s succession experts, Lynne Fisher and Eben Louw, and conflict resolution expert, John Radford explore how to transform a pain point during the succession process into a constructive opportunity to improve familial relationships and optimize the succession process for family businesses.
Chat #7: How do business families deal with conflict? Part 3 – Building capacity for conflict
In this episode, MNP’s succession experts, Lynne Fisher and Eben Louw, and conflict resolution expert, John Radford explore how to transform a pain point during the succession process into a constructive opportunity to improve familial relationships and optimize the succession process for family businesses.
Chat 8: Should you tell your family members how much the family is really worth?
MNP's Succession advisors, Lynne Fisher and Danielle Walsh, delve into the complexities of navigating family cultures that discourage open dialogue and transparency regarding family wealth. They provide strategies on how to approach these situations and initiate difficult conversations that can help shed light on the family's financial situation, and when to solicit the assistance of an advisor.
Download our succession checklist
Want to create your succession plan, but unsure where to start? Download our succession checklist today to see what questions your plan should be built to answer.
Our team
Everyone’s path to business succession will be unique — your plan should be based on your individual goals, needs, and ideal vision for retirement. To get started creating your personalized succession plan, contact:
Shane King CPA, CA
National Leader, Succession Services
Lynne Fisher
National Team Leader, ExitSmart