Letting go gradually
Outgoing business owners hold a wealth of insight and experience. During the transition process, they must be willing and able to adapt their involvement, mapping out a suitable path for a graceful transfer of power and enabling their trusted successor to move the business forward. Gradually they may decide to take a less hands-on approach, instead contributing by being part of a senior advisory committee. In time and with growing confidence, the patriarch may further reduce their involvement with the business, enabling its new leadership to operate autonomously.
The process can indeed be cumbersome, but it doesn’t need to be. PulvermacherKennedy and Associates assist organizations by working alongside family members during the succession process in a sensitive manner. What makes our approach unique in the marketplace is we’re in the proverbial trenches with the families, as opposed to dictating implementation steps from a distance. We help business owners and next-generation leaders work through complicated dynamics, processes and operational issues to ensure that their plans are successfully implemented.