Skip to content

Succession Planning Creating a Dynasty

June 30, 2013

Originally posted in the Grand Rapids Business Journal, July 2012

Recently, I spent time with old friends reminiscing about the “glory days” of high school athletics. We were lucky to be part of some excellent sports teams in our youth, teams that continue to perform well year after year. That longevity of success transcends the talent of individual players; it reflects a strong culture, good communication and thoughtful planning for the inevitable transitions that occur in players and coaches over time.

While just as committed to building lasting success in their family business, many business owners cringe at the thought of succession planning. They tend to think about the energy, emotion and expense of the process and instead prefer to focus on the current “season.” Yet without adequate planning for a smooth transition, an unforeseen life-changing event or two can seriously derail the business.

Read the article in its entirety: Succession Planning Creating a Dynasty

Sign up to be the first to access our leading legal insights.

The link you have selected will redirect you to a third-party website located on another server. We are offering the link for your convenience. Varnum has no responsibility for any external websites and makes no express or implied warranties about any external websites.

Please be aware that contacting us via e-mail does not create an attorney-client relationship between you and the firm. Do not send confidential information to the firm until you have spoken with one of our attorneys and receive authorization to send such materials.