Passing Down the Mantle from Generation to Generation

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Passing Down the Mantle from Generation to Generation

The tradition of passing the legacy of a business from generation to generation is as old as time itself. However, in this age it can create worries and cause problems if not handled with the utmost care. Studies show that only 70% of family businesses last one generation. Worries are created about the future of the business when passing it down. How do you know your heir will continue to drive the business forward? How do you know it will not go backwards or completely fall apart? To avoid this issue, Harvard Business Review took an in depth dive on how to smooth the transition and make sure that the next generation will not be the last. Read about board make-up, succession planning and skills assesment and more. Click here to read more: https://hbr.org/2014/04/generation-to-generation-how-to-save-the-family-business

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