Introduction
This practical training program is designed with:
- 16 hours training
- 03 months one-on-one coaching
How you will benefit
By the end of the program, participants will be able to prepare Steps Sustaining Your Family Business
Who should attend
Families in Business: From Generation to Generation is intended for teams of business family members, such as:
- A chief executive officer [or top family business leader(s)] and his or her spouse
- Children of the business leader(s) and their spouses
- Siblings and their spouses/partners
- Cousins and their spouses/partners
These family members might be:
- A manager or an employee
- A board member
- A shareholder
- An interested relative, who may be an in-law
What you will cover
Module 1: How to Combine the Family and Business
- Employment and family policies those clarify expectations
- Integrating your child into your company
- Closing the generation gap
Module 2: How to Build Leadership Skills
- Creating an organizational chart of your family business
- Managing unproductive partners
- preventing deadlock
- Engineering the entrepreneurial spirit
Module 3: How the Family Members Working together
- Sibling partners need an openness policy
- Achieving unity in a large family
- The right way to make decisions
- Splitting the business to unify the family
Module 4: How to Plan a Successor
- The secrets of successful family business successors
- How to introduce your successor to key outside stakeholders
- When the successors don't take charge
- When to recruit an interim leader
Module 5: How to Manage Your Family Company
- The best fit corporate structure
- Building an effective board
- Designing a family business governance structure
- Creating a family holding company
Module 6: How to Create Code of Conduct
- Building a family code
- Building a family ethic policy
- Why do you need a policy on prenuptial agreements
Module 7: How to Pay Fairly
- Transitioning to equitable base pay for family employees
- Executive compensation strategies for private companies
- Is an ESOP appropriate for your company
Module 8: How to Develop Business Strategy
- Developing a strategic plan
- Diversifying your holding
- Creating value through strategic acquisitions
Module 9: How to Compromise in the Financial Matters
- Financial best practice for family businesses
- Agreement with relatives should be put in writing
- Dividend policity