Exit Coach Bill Black interviews Top Advisors for Tips, Ideas & Precautions for Business Owners who want to grow and protect their company value and plan for a successful Business Sale or Transfer. Listen daily so you can be well-planned!
Episodes
Monday May 01, 2017
Monday May 01, 2017
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Transcript
Richard: The first thing you have to do, I think, that's important, is to make sure that the family documents and understands their shared history. Where the family came from, how they got there. You know, a lot of times that doesn't get documented, doesn't get shared with the kids. They say when somebody dies it's like a library burns down, all that wisdom, all that potential mentorship is lost for all future generations of the family. And so, we make sure and gather that, we capture it, we interview the parents, we do video interviews, audio interviews. We create what we call a family vision statement that tells the next generation, "Okay, this is how we got here, this is what we believe is important, these are the values and the experiences that made us successful, this is what we want you guys to know going forward. Now, it's your turn to figure out what you're gonna do with your life. Here's the baton."
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