Family Business: The guide for building and managing family companies
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The Family Business Succession Handbook  SOLD OUT

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1. Succession Planning

 Clarify your objectives before you begin
Choosing the right ownership structure
Promoting stewardship
Twelve steps in planning succession
Getting help from the board of directors
Are you ready to transfer control?
Profile: Strategy first at Easy Day Mfg.

2. Preparing the Family

 Exposing the emotional issues
Family councils: the key to communication
How to handle the relatives
Split the business to unify the family

3. Preparing the Business

 Preserving company values
Support for senior managers
How to avoid losing executives
Help for employees, suppliers, customers
From second to third generation

4. Developing Successors

 Sparking interest in younger children
Raising a daughter as the next CEO
Mentoring the next generation
Parenting versus mentoring
The nonfamily mentor's guide
Infusing successors with core values
Meeting customers and suppliers
Profile: Marsha Marson's on-the-job training
Profile: Eric Monson's mentoring team

5. Who to Choose

 Why smart people make dumb choices
You make the final decision
Choosing the best among siblings
Co-leadership: when can it work?
Getting partners to agree on a successor
Preparing for emergencies
Profile: Skip Nottberg's bridge to the future

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6. Transferring Control and Ownership

Match ownership to control
How to avoid multiple shareholder madness
Tools for transferring ownership
Protecting your retirement income
Breaking deadlocks over valuation
Trusting the firm to trustees
Incentives for nonfamily caretakers
Attracting a nonfamily CEO

7. Taking Charge

How successors establish authority
Making sibling teams work
Profile: How Nordstrom cousins proved ready
Profile: Roy Menninger faces the big test

8. Letting Go

The Top 10 excuses for not letting go
The deep reasons for founders' resistance
Letting go with grace and style
Make a career of retirement
Profile: Nat Shulman phases himself out

9. Estate Planning and Taxes

The 10 deadly sins in estate planning
Protection against liabilities
Equality is often unfair
The primary transfer tools
A second opinion on great tax escapes
Better to buy out than to receive
Sound real estate planning
Prisoners of protective trusts
Keeping the peace with stock liquidity
The rights of minority stockholders
The new exemption rules of 1997