A USC Marshall Family Business Program Exclusively for YPO Members and their Families
The Keys to Creating a Successful Multi-Generational Family Business
March 14 – 15, 2019 on the USC Campus in Los Angeles
Wednesday, March 13, 2019: Opening Reception and Mixer
Steve Lytle will be hosting a reception on Wednesday at the University Club, on campus. We will also arrange optional tours of the USC campus or USC’s Heritage Hall and Athletic Center, for those who are interested.
Thursday, March 14, 20019: Day 1 YPO Workshop
8:30 a.m. – 8:45 a.m. Welcome and Introductions
8:45 am – 9:00 am USC Marshall Family Business Check-Up
The Family Business Check-Up is an assessment tool, developed by USC Marshall Family Business Program, that provides feedback on a family’s readiness to achieve multi-generational success. Participants will be invited to take the assessment in preparation for the workshop.
9:00 a.m. – 10:00 a.m. Managing Your Hat Collection Keys to Creating a Successful, Multi-Generational Family Business
There are six critical transitions that a successful, multi-generational family business must learn to navigate to create its legacy. This kick-off session lay the foundation for the workshop while exploring the dynamics of each of the following transitions: The Founder, Family, Business, Management & Governance of the family & business, Ownership and finally the Family’s Wealth & Legacy. You’ll also learn about the importance of understanding and managing your ‘hat collection’ from the book “Hats Off to You.” Discussion leader: Lee Hausner, Ph.D.
10:15 a.m. – 11:30 a.m. The “Business” of the Family
Most businesses have business plans…most families don’t. We will lay out a framework for the “business” of your family: The Family Employment Policy Manual, the Family Constitution and the Family Strategic Plan. Discussion leader: Ken Ude
11:30 a.m. – 1:00 p.m. Lunch: This will be a time to network and get to know others of your generation
1:00 p.m. – 2:00 p.m. Wealth in the Family Business: Avoiding the Wealth Evaporation Trap
There can be a big gap between creating business wealth and realizing that wealth at the family level. The impact is significant on investment returns, liquidity, risk, and family dynamics. Learn how innovative financial and operational strategies to run your family business with a discipline on realizing shareholder value. Discussion leader: George Isaac
2:15 p.m. – 3:30 p.m. Effective Communications, Resolving Conflicts & Crucial Conversations
You will get an understanding on how your personal ‘filters’ and ‘headsets’ impacts how you communicate. In addition, we will practice the power of reflective listening skills and using “I” statements in communicating and resolving conflicts. Discussion leader: Lee Hausner, Ph.D. and David Bacci, USC associate professor
5:00 p.m. Reception and Dinner University Club
Noam Wasserman will join us and share some insights from his research on why entrepreneurial venture fail. Noam is the author of ‘The Founder’s Dilemma’. He is currently a Professor of Clinical Entrepreneurship at the University of Southern California and the director of USC's Founders Central Initiative.
Friday, March 15, 2019: Day 2 YPO Workshop
8:30 a.m. – 9:45 a.m. Creating Value in Your Business and Reducing Your Overall Operating Risk
What would a buyer look for in your business? If the phone rang, would you be ready, and would you get the maximum value for your business? This panel will discuss how to create long-term sustainable value in your business, increase your multiple and in doing so reduce the overall operating risk of the business. Even if selling is not on your radar screen, creating maximum value should be! Discussion leaders: Lars Ekstrom, George Isaac and Ken Ude
10:00 a.m. – 11:15 a.m. Planning for Your Generational Succession, Taking a Few Chips off the Table, or For a Sale
This session examines how to get the founder ready, the business prepared, and the family equipped for what comes next. Many of the steps are identical for building a business for a long-term hold. We’ll also address if it makes sense to sell a great running business…or should you hold it for the long term. Discussion leaders: Lars Ekstrom, George Isaac & Tim Lappen
- Considerations in deciding to sell, or not to sell and hold onto the business
- Key steps for a successful succession
- Getting the founder ready
- Getting the business ready from a marketplace perspective
- Getting the family ready
11:15 p.m. – 12:30 noon Perpetuating Multi-Generational Family Wealth
Perpetuating wealth for future generations requires more attention than just effective estate and tax planning. It requires an astute understanding of the ‘headwinds’ that face families and investors today. Discussion Leaders: George Isaac, Tim Lappen & Greg Kushner
12:30 p.m. Lunch Keynote Speaker ~ to be announced
1:30 p.m. – 3:00 p.m. Creating Your Legacy Family
Successful families understand their 4 capital accounts, tackle the tough questions around education, keeping the next generation productive and understand the roles of philanthropy, family offices and family banks. Learn what successful families enjoy and celebrate…and you’ll learn about the importance of making more chickens! Discussion leader: Lee Hausner, PhD.
Who May Attend: This event was designed exclusively for YPO members and their families. Up to five (5) Family Enterprise adult stakeholders (age 21+ family members, enterprise executives or board members) may attend with a YPO member.
- $1,500 for one YPO member
- $2,500 for 2 attendees - 1 YPO member & guest
- $3,500 for 3 attendees - 1 YPO member & 2 guests
- $4,000 for “family” registration (4 to 6 attendees)
Accommodations: Hotel accommodations are not included. We recommend that you reserve hotel rooms well in advance and that attendees stay in or around, the USC campus or in downtown Los Angeles, which is reasonably near the campus. The Los Angeles Radisson is across the street from USC Marshall School of Business.
Meals: A reception will be hosted by Steve Lytle on Wednesday at the University Club, on campus. We will also arrange optional tours of the USC campus or USC’s Heritage Hall and Athletic Center. A continental breakfast and lunches will be provided both Thursday and Friday. Dinner will be included on Thursday.
For any special needs or requests please contact Ken Ude, Director of the USC Marshall Family Business Program at Ken.Ude@marshall.usc.edu or 323.365.3787