Post by arfankj4 on Mar 7, 2024 3:31:19 GMT
Plus selling your family business presents wonderful opportunities. You can update and reconfigure your ownership group with the right owners for your next chapter of wealth generating and social value generating ventures. Selling a family business can be a wrenching decision but is an option more families should follow.©iStock PeopleImages But it s important to understand that if this transition is not managed well the family has a higher risk of losing its wealth through bad investment decisions and overconsumption.
Starting now before your sale and liquidity event you need to adopt the attitudes of those families that endure as high performing enterprising families t ahead of the curve. They understand the family s cash needs now and in the future along with its true strengths and weaknesses. They want to Poland Mobile Number List educate themselves about the differences between families with operating businesses and post liquidity families managing portfolio assets. They are willing to face the challenges common to post liquidity business families that can pose threats to unity of the family and the owners. Enterprising Families Build Value Through Liquidity Transitions The attitudes of enterprising families that thrive after legacy transitions seem to lead to the following six key activities that achieve then propel their success.
A Planning They develop a family strategic plan—usually with the help of trusted advisors—to specify their goals and values and clarify how they will achieve those goals. This strategic plan naturally takes some time often a year or two to develop. . Redeployment. Consistent with the family s strategic plan they redeploy the proceeds of a business sale in assets usually more diversified assets that match the family s talents aspirations and needs. Short term families usually place their assets in relatively safe vehicles while they catch their breath and assess their interests unity and risk tolerance. Longer term they might start or buy another operating company while keeping some portion of their assets individually or collectively in other kinds of investments.
Starting now before your sale and liquidity event you need to adopt the attitudes of those families that endure as high performing enterprising families t ahead of the curve. They understand the family s cash needs now and in the future along with its true strengths and weaknesses. They want to Poland Mobile Number List educate themselves about the differences between families with operating businesses and post liquidity families managing portfolio assets. They are willing to face the challenges common to post liquidity business families that can pose threats to unity of the family and the owners. Enterprising Families Build Value Through Liquidity Transitions The attitudes of enterprising families that thrive after legacy transitions seem to lead to the following six key activities that achieve then propel their success.
A Planning They develop a family strategic plan—usually with the help of trusted advisors—to specify their goals and values and clarify how they will achieve those goals. This strategic plan naturally takes some time often a year or two to develop. . Redeployment. Consistent with the family s strategic plan they redeploy the proceeds of a business sale in assets usually more diversified assets that match the family s talents aspirations and needs. Short term families usually place their assets in relatively safe vehicles while they catch their breath and assess their interests unity and risk tolerance. Longer term they might start or buy another operating company while keeping some portion of their assets individually or collectively in other kinds of investments.