Beyond the Founder – Beating the Odds in Family Business Succession

Beyond the Founder – Beating the Odds in Family Business Succession

I recently joined John Kundtz on The Disruptor Podcast to discuss a crucial topic for family-owned businesses: "Beyond the Founder: Beating the Odds in Family Business Succession." Did you know that 50% of family businesses fail after the owner's death? 

We delved into some other alarming statistics—like how only 1 in 3 family businesses make it to the second generation—and explored how early succession planning can secure a family legacy.

Key highlights from our conversation included:

• The importance of starting succession planning 5-10 years in advance.
• Avoiding common mistakes, such as overlooking financial literacy.
• The value of fractional CFO services in ensuring a smooth transition.

During the episode, I shared my key advice: "Check your ego at the door and realize that you're not going to be able to run the business forever." Early planning is essential to avoid pitfalls and ensure your business thrives across generations.

Listen to the full episode here: https://www.buzzsprout.com/2241471/episodes/15898557

If you're ready to dive deeper into securing your legacy, I’m offering a free consultation and access to my 13-week cash flow forecasting tool to help you plan for the future.

Contact me at Lowell@impactcfo.net
Visit: www.impactcfo.net
Or call (847) 212-4081 to schedule a time.

Let’s ensure your business thrives for generations to come!