Since 1973, The Rawls Group has been passionate about helping business owners achieve their succession goals. Nationally recognized, The Rawls Group specializes in addressing the issues that impact the continued success of a business legacy. By partnering with our clients and their other advisors, we work to develop a plan that will perpetuate the leadership, culture, performance, and relationships that are key to business success.
Successor Development: You've Selected Your Successor, Now What? by Jeff Faulkner
Now that you have successfully selected your successor, what do you do? If you’re developing a family member successor, the most important thing is to have them go work somewhere else before entering the family business. Learning how to be an employee in a place where your last name means nothing is very valuable.
Once they enter the family business, they need to know their expectations in terms of behavior and attitude. Many next generation kids in family businesses have no idea that they are entering life in a fishbowl and are shocked whe [ ... ]