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Intergenerational Wealth & Family Business with Dr. Tom Deans
Manage episode 396081055 series 3523725
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Takeaways:
- Selling the business to the next generation ensures that the children are truly capable and committed to running the business.
- The Willing Wisdom Index is a digital tool that helps business owners assess the gaps in their succession and estate plans.
- Preparation and mentoring of the next generation are crucial for a successful business transition.
- Bringing in outside leadership can provide expertise and neutrality in managing the business.
Key Points From This Episode:
03:08 Shift in Perspective on Family Business Succession
07:33 The Willing Wisdom Index
08:44 Selling the Business to the Next Generation
10:29 Preparation of the Next Generation
12:32 Bringing in Outside Leadership
14:16 Challenges with Non-Family Members in the Business
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