Trusted Exit Planning Consultant | Expert in Business Value Optimization & Smooth Transitions | Helping You Plan Your Next Chapter Because Life's Too Short to Leave it to Chance
Behind the headlines. A digital issue of the local business journal featured an article that one might skip over in the print version About a family-owned business reacquiring a business unit. For some business owners reading the story, it may sound and feel familiar - a part of the business is spun off for one brother while the other sibling stayed with the 'parent' entity - the spin-off got sold to a third party (an exit and wealth event for one member of the family) - the remaining family-owned entity reacquires the spin-off from the 3rd party owner - bringing everything back in the fold, increasing the value of their operation and positioning the business for another intergenerational transfer or for another exit (or exits) in the future - a new, non-family owner is brought into the fold The article reported the details of the deal and generational evolution of the business in the broadest of terms. I read into it feelings among brothers, children, nieces, nephews, cousins, parents, customers, and employees. Feelings of - fairness - what's right - what's earned - who is deserving Maybe I imagined a little more drama than there actually is/was. Needless to say, what I hope this family (and other readers) take away from this transaction is the benefit of planning ahead. Not just a few years or to your own retirement. But to the generations you haven't met yet. What options do you want to give them for ownership, meaningful work, wealth, philanthropy, leadership and legacy? For most of us, the business we've built or been raised in isn't just a business or a paycheck or an inheritance It's relationships, identity, purpose and accomplishment. The Business Journal reported on a transaction. This family experienced another pivotal milestone in their shared history that probably had very different meanings for people the founders never met. #familybusiness #exitplanning #legacy
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5moReally great read. You are cold Christy