1. Family BusinessSuccessionPlanning www.FamilyBusinessBattleGround.com Family Business Battleground Surviving and Thriving in your Family Business http://www.perfection-consulting.com/wp-content/uploads/2009/06/businessplanning.jpg

2. Successionis a process requiring planning, teamwork, and constant re-evaluation.Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.istockphoto.com/file_thumbview_approve/5068686/2/istockphoto_5068686-business-people-taking-notes-at-a-conference.jpg 3. Successioncan extend from 3 to 6 years or longer depending on the age of the successor.Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://z.about.com/d/humanresources/1/0/u/C/BFSuitHandshake.jpg 4. One of the Biggest Challenges we face in aFamily Businessis how to pass on the business to the best person in next generation. Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://images.askmen.com/money/keywords/business-networking_965777.jpg 5. We need to make the right decisions for-Ourselves, Our family, Our businesswhile balancing the needs of all three.Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.life123.com/bm.pix/what-is-a-business-plan.s600x600.jpg 6. Mainly, a Succession Plan Includes: Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com

Our key goals for the succession process.

A timetable of the transition stages, from

identifying a successor, to the staged, and

then full transfer of responsibilities

Contingency plans in case the unforeseen

happens, or the intended successor declines

the role.

7. Family has the sole power to decide who the successor will be and when the transition will occur.Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.strixsystems.com/images/services/training-288x169.jpg 8. Succession is a process which occurs in phases.Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.thegameoflife.co.uk/media/Lifestyle%20images/Business_clap.jpg 9. Period when one initiates and educates children is vital during succession for thefamily business .Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.yesdeeglobal.com/image/Clientsimage.jpg 10. If thebusiness of successionis not done by process and through planning, it will be done by crisis or a failure to plan, with perhaps disastrous results.Family Business Battleground Surviving and Thriving in your Family Business www.FamilyBusinessBattleGround.com http://www.fastbusinessplans.com/images/business-planning.jpg 11. www.FamilyBusinessBattleGround.com Family Business Battleground Surviving and Thriving in your Family Business VisitFamily Business Battlegroundto share and strengthen Family Businesssand Relationships.