Preparing Successors for Leadership

Introduction Attitude Preparation: The Early Years Entry into the Business The Business Development Stage The Leadership Development Stage Situations with Multiple Siblings If the Shoe Fits The Role of the Successor in Business Revitalization Family Relations During Successor Development Special Challenges to the Owner-Manager Special Challenges to the Successor Summary Resource List Index

CRAIG E. ARONOFF Co-founder, principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide.

JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA and teaches strategic management, business leadership and family enterprise continuity.

'The ideas and suggestions that I heard John Ward proffer during a seminar, and then later express with Craig Aronoff in Preparing Successors for Leadership channeled our thinking about successors and succession in our third generation and soon-to-be second generation companies into exactly the right directions. Now, our succession plans in both companies are moving smoothly ahead; one is complete and one is in progress. Without the inspirational influence provided by John and Craig it is certain that we would not have carried out our succession planning half as well as we have.' - Barton S. Mitchell, E. Stewart Mitchell, Inc., Baltimore, MD and Superior Paving Corp., Gainesville, VA 'An excellent real life approach on how to pass the torch to the next generation. This series provides the critical questions that all family business owners should consider. Preparing Successors for Leadership is not only a must read for family business owners, but just as importantly for their advisors.' - Louis Tuck, Warren Averett, Kimbrough & Marino, LLC, Birmingham, AL 'Preparing Successors for Leadership is an excellent guide to one of the most important issues family businesses face helping successors develop attitudes and abilities that maximize their leadership qualities.' - Doug Brown, CEO, Fresh Products, Inc., Toledo, OH 'Questions of leadership succession are likely to be key strategic concerns for any enterprise going forward. Family owned business bring unique challenges and opportunities in this important question. Preparing Successors for Leadership provides an extremely effective framework for thinking about and assisting family succession issues. It will provide great insight both to family members and other leaders with whom they work.' - Ralph Christensen, Sr. VP, Hallmark Cards, Inc., Kansas City, MO