Succession Accelerators
Succession Coaching and Consulting for Family Businesses Ready to Transition Leadership to the Next Generation while Preserving Family Relationships and Accelerating Results.
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Who Should Hire a Succession Coach?
The family businesses that hire Ryan for succession planning are those whose founder or family member with majority ownership is ready to hand off day-to-day leadership of the business to one or more of their children or another family member. They also hold a deep resolve to preserve family relationships in any succession planning process.
Why is Succession Planning Necessary?
While every family business is unique in its products or services, marketplace, and technical expertise, each will have to decide what to do when the founder is ready to hand off day-to-day leadership of the business to one or more of their children. This transition is a critical phase in their business life cycle. If succession is not thoughtfully and intentionally engaged, businesses are in jeopardy of eventual failure:
Statistics in one study show that only 30% of family businesses survive for more than one generation (i.e., from parent to child), only 15% of family businesses last for two generations (i.e., from grandparent to grandchild), and only 1% of family businesses survive for three or more generations. Succession issues also have the potential to wreak havoc, both in the business and in the family. Starting down the succession path can open “old wounds” involving various family members that have been swept under the rug. Many successful business owners have fractured relationships with their family because of all the effort and time it has taken to make the business successful. - Primerus Law Firms
In many family businesses, the tension between the eagerness of the next generation’s leaders to take control, and the founding generation’s willingness to relinquish control, is the source of many failed relationships and companies. The founder does not trust the next generation to take on the responsibilities of the business, and the next generation does not sense the empowerment to do so. So, they find themselves at an expensive impasse with family harmony and the future of the business at risk. - Harvard Business Review
All conflict is rooted in unmet expectations, whether conscious or unconscious. The founder(s) see the world in black and white, valuing tradition, independence, and consistency. In contrast, the succeeding generation sees the world in gray, valuing innovation, collaboration, and purposeful disruption. When leaders are experiencing high levels of stress, fear of the unknown, or conflict with family members employed by the organization, they retreat to what they know and unconsciously become more guarded and rigid, rendering them ineffective in their attempt to guide the succession process. Combating this requires an effective succession plan rooted in the Four Pillars of Succession.
The Four Pillars of Succession
Objective Selection Process
Identify and select the succeeding leader based on objective criteria and leadership characteristics.
Fully Equipped Incoming Leader
Identify and support growth relative to the succeeding leader's strengths and weaknesses that would provide the greatest benefit to their success.
Strong & Prepared Team
Identify and codify individual roles, responsibilities, and team values to support effective communication, collaboration, and conflict resolution.
Shared Vision & Goals
Identify your shared mission, vision, values, and strategic priorities that support the leadership transition.
Succession Planning Solutions
Succession Accelerator
One Month of Intensive Support to Build a Comprehensive Succession Plan, including:
- Family Stakeholders Summit
- Selection Workshop
- Succession Planning Offsite
- Succession Plan, codifying business priorities, long-term financial obligations, individual roles and responsibilities
- Team Accelerator
- Leadership Accelerator for Incoming & Outgoing Leaders
Advanced Succession Accelerator
Succession Accelerator plus Six Months of Succession Coaching, including:
- Advanced Leadership Accelerator for Incoming & Outgoing Leaders
- Support Incoming and Outgoing Leaders in preparation for transition.
- Passing the Torch Ceremony
- Spot Check-Ins with Family Stakeholders
Premium Succession Accelerator
Succession Accelerator plus 12 Months of Succession Coaching, including:
- Everything in the Advanced Succession Accelerator
- Six Months of Additional Succession Coaching (post-transition) to Support the Leaders in their New Roles.
- Closing Evaluation and Future Planning Workshop
Platinum Succession Accelerator
Succession Accelerator plus 12 Months of Succession Coaching for All Leaders, including:
- Everything in the Premium Succession Accelerator
- Advanced Team Accelerator
- Ultimate Support for Maximum Results
I'm interested. Tell me more about how it all works.
The first step is to set up a complimentary discovery session with Ryan to discuss your business's specific needs and if one or more Succession Accelerators is right for you.
There are three progressive phases to Succession Coaching:
2019-01-01
Succession Planning Phase
A one-month intensive delivered in four parts:
- Family Stakeholders' Summit
- Successor Selection Workshop for Decision Maker(s)
- Five-day Succession Planning Offsite Retreat for Family Members Employed by the Business and Other Invited Leaders
- Individual Leadership Accelerator Workshops for the Incoming & Outgoing Leaders
2020-01-01
Pre-Transition Successions Coaching Phase
Six months of personalized succession coaching to support the incoming and outgoing leaders as they pursue their goals from their Leadership Acceleration Plans in the context of the broader Succession Plan.
Coaching is crucial in transforming the client's goals from theory to practical application. Sessions are typically conducted for an hour during the coaching engagement every other week. This phase ends with a "Passing the Torch" Ceremony for employees and family members.
2020-01-01
Post-Transition Successions Coaching Phase
Six additional months of personalized succession coaching to support the incoming and outgoing leaders in their new roles. Team Coaching for the business leadership team is available in the platinum package. The Succession Coaching process ends with an Evaluation Workshop.
Request a Free Consultation with Ryan
Take the next step in your leadership journey