“Nature abhors a vacuum”
Nature abhors a vacuum, so why should it be any different in business?
The concerns of the owners with passing decision making to someone who has not participated in the creation of the company are very big and quite understandable. They are always going to be there whether there is a young successor taking over which is the owners family member, or an experienced manager who comes from outside the organization. Therefore, it is necessary to prepare for this process as soon as possible, as otherwise especially if waited for too long, we can make a mistake of selecting a wrong person. Especially, if there are few children involved in the process and parents must objectively decide who is ready to take the challenge of taking over the leadership and will be the first in line to succession. Maybe it is much easier in the royal families in case of succession of the throne, as they know from the beginning of who will take over the power, but when we look at the abilities and predispositions of this or another heir to the throne, we can see some similarities with the problems of business succession. But that is now less important, so we are going to leave it there.
As we mentioned before, the transitional period between deciding when to pass over the power and taking it over is a long-lasting process. It happens, however, that the company will face this difficult task overnight by total surprise and will have very little time to act.
To address such situations, we can offer you our professional help on:
1.Tthe creation of an external board, made with professionals who, at the specified by both parties’ time will:
- quickly and smoothly deal with operational activities in the company
- take responsibility for the decision-making and further development of the company
- serve as a consultation and personal advice center
- create the solutions and strategies direction
at the same time:
2. The creation of the supervisory board, made from family members (children of the owner), who through close cooperation with Biznes Up will:
- get prepared theoretically and practically to manage the company
- be functioning in the company as a supervisors
- take part in planning the company’s development
- after the preparatory period take over the function of the management board
Thanks to the use of such solutions, the company can properly develop the plan for long-term goals, prepare the successors by giving them the right amount of time required, after which their pursuit of family business targets will become a real passion for them.
