Timely and professional succession in a family business is intimately linked with the wishes and attitudes of the owner, which is the key to coping with the challenges of succession. My primary interest lies with the personality of the business owner, identifying what drives the owner and prevents him from accepting a successor.

Where applicable, following components of a strategic foursome exist:

- individuals (life concept of the owner, successor, children)
- family (credo, family council, family governance)
- wealth/assets (strategic investment details)
- companies (strategy, corporate governance)

The business owner should as early as possible organize his/ her life priorities, and consider his/ her work outside of the company. Which activities provide the greatest enjoyment? Where can he/ she optimally contribute? Which “playground” can in later years provide continued challenges?

The key to strategically and successfully implementing the above mentioned four- part concept relates to “reflection- conception- action,” which is based on longevity and continuity. More information regarding this unique approach can be found at the website of the consultancy CONTINUUM AG. Click here.

I can also recommend my book “Herausforderung Unternehmer-Nachfolge” (Challenges of business successorship)