Crossroads - Albrecht Path

Difficult Conversations

In this video we discuss the following in regard to having those difficult conversations with family about the business;
1 - More communication is better
2 - Techniques
3 - Outside Help
4 - Separation

Also found at "Preparation for Multi-Generational Ownership" Station along the Transition/Conclusion

Also found at "Preparing Business for Sale" Station along the Transition/Conclusion

Also found at "Do I Want To Buy A Business?" Station along the Start Up

Importance of Planning

*PowerPoint presentation included - Download Notes to access*

Planning:
o Something that everyone would like to do.
o Intention may be there, but it doesn’t always happen. We have to find the time, and the
more you plan, the better you will be at it.

What’s in the PowerPoint?
o Comments from Paul Bryant
o Comments from Peter Drucker:

- 5 elements:
1. What’s your mission?
2. Who’s your customer?
3. What is your customer value?
4. What results do you want from your plan?
5. What is our plan? *write it down*

DOWNLOAD NOTES DOWNLOAD TRANSCRIPT

Also found at "Should I Sell?" Station along the Transition/Conclusion

Also found at "I'm Retiring - Now What?" Station along the Transition/Conclusion

Impact of Health on Transition Options

The big "What if" : Health

-Having a plan in place before an event takes place.
-Health events may result in a loss which can drastically change time tables for succession.
-Planning is important!
-Take care of yourself - we are all mortal.

Also found at "Transferring to the Next Generation" Station along the Transition/Conclusion

Passion for the Business

Also found at "Running the Business" Station along the Operational

Also found at "Mattheisen Path" Station along the Peer Paths

Also found at "Greer's Path" Station along the Peer Paths

Also found at "Holt Path" Station along the Peer Paths

Also found at "Do I Want To Buy A Business?" Station along the Start Up

Also found at "Starting Your Business" Station along the Start Up

Timing to Transition

Timing DOES matter!
When is the right time to transition your family business, and how will you know when that time comes?

Also found at "Preparation for Multi-Generational Ownership" Station along the Transition/Conclusion

Also found at "Transferring to the Next Generation" Station along the Transition/Conclusion

Also found at "Wallace Path" Station along the Peer Paths

Also found at "Mattheisen Path" Station along the Peer Paths

Also found at "Eskew Path" Station along the Peer Paths

Also found at "Next Generation Start Up" Station along the Start Up

Path to Involvement - Working Outside the Family Business

Let's talk about the path to your involvement in your family's business and the value of working for an outsider prior to returning to your family operation.

Also found at "Preparation for Multi-Generational Ownership" Station along the Transition/Conclusion

Also found at "Mattheisen Path" Station along the Peer Paths

Also found at "Next Generation Start Up" Station along the Start Up