The Challenges of Leadership & Transition in Family Business
Family Business owners and managers face many transitions, only one of which is succession. Learn how to be better prepared to face challenges of transition, change and manage opportunities to achieve your goals!
Presented by: Greg McCann
Friday, October 23, 2009
8:00 a.m. - 11:30 a.m.
King's College
Family Presentation by:
Sondoni Construction Services, Inc.- Bill Sordoni will discuss his family’s impressive and soon to be 100 year old company!
Greg McCann has identified 8 challenges facing everyone in a family business, some specific to the next generation phase and some are lifelong challenges. The key is to have a plan that aligns with your goals, that acts as a rudder to help you navigate the changes, transitions and opportunities you face. Greg will review the challenges, and guide us through the steps to develop a plan to be a more effective leader.
You will take away:
• Clarity of your vision and what you want to achieve
• The ability to articulate your values and goals
• Tools to navigate change and manage opportunities
• A customized personal action plan
The Family Business Forum at King's College recognizes the unique joys and challenges associated with operating and sustaining a successful family enterprise in northeastern Pennsylvania.
Family-owned businesses are fundamentally important to the U.S. and regional economy. In fact, 92% of all US businesses are family owned. However, the challenges can be overwhelming. Consider the following:
30% of all family owned businesses will survive into the second generation.
Only 12% will succeed to the third generation, with 3% continuing into the fourth generation and beyond.
81% of business owners want their business to stay in the family, yet 25% have not completed an estate plan and 20% are not confident of the next generation's commitment to the business.
The Mission of the FBF:
To provide a learning and networking forum for family businesses, program sponsors, and the students and faculty of King's College, which enhances the family business community in Northeastern Pennsylvania.
