2-day Family Business Legacy Workshop
Date: May 2018
Location: USC Campus, Los Angeles, California 90089
REGISTRATION NOW CLOSED! See you next year!
“The Keys to Creating a Successful Multi-Generational Family Business,” workshop gives participants an overview of the six critical transitions a family business must navigate including succession planning, preparing the next generation, wealth preservation and more. This workshop provides a great overview of the critical transitions and sets up many of our other programs to dive deeper into the topic area.
Day 1: Creating a Successful, Multi-Generational Family Business
The morning session will explore six critical transitions from the book “Hats Off to You ~ 2”, with particular focus on:
- Preparing the Founder for a Transition
- Preparing the Business for a Transition
- Preparing the Family for a Transition
The “Business” of the Family
We will layout the framework for the “business” of your family: the Family Employment Policy Manual, Family Constitution, and Family Strategic Plan. Through the balance of the workshop participants will be able to create their framework.
Roles & Liabilities for Trustees & Beneficiaries
Over the past several years ‘boat loads’ of trusts have been created and trustees have been appointed, but very few have been trained in their role, leaving them exposed to unnecessary risks. This session will explore the roles of both the trustees and the beneficiaries.
Effective Communications, Resolving Conflicts, and Crucial Conversations
You will get an understanding of 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.
Day 2: Creating Long-Term Sustainable Value
The “Sustainable Value Wheel” is a visual planning tool that highlights the 5 areas for a successful business must focus on to create value: People & Culture, Business Processes, Right Markets, Predictable Revenue and Financial Strength. Learn the essence of this assessment tool.
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 thought leaders have developed innovative financial and operational strategies to run your family business with a discipline on realizing shareholder value.
Planning for Your Generational Succession, or a Sale
Preparing the Founder, the Business and the Family for a transition takes careful planning to make sure that the transition goes smooth and is done in a tax efficient manner.
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!