One of the most difficult challenges in a family business is figuring out when and how to let go. There's a fine line between staying long enough to ensure that the next generation is ready and staying too long so that the next generation is hampered. When you've spent a lifetime building a business, you want to protect your legacy, but that's often easier said than done. This group of non-competing dealers will delve into the best practices of transitioning the business and determining what you do with the rest of your life. Some of it will focus on the financial aspects, but a good portion of the time will be spent on the softer side of things that are rarely explored but are just as essential to your legacy as the financial preparations.
The group is going to meet twice a year for three years. Because of the private nature of the group (who would want their competitor to know they were preparing to leave?) we are not allowing competitors. We are also keeping the membership of the group confidential. Meetings will likely be in resort-type settings away from anyone’s yard. The cost to participate per meeting is $800/person/meeting. Jan Flynn, CSA’s resident family business expert, will facilitate this group.
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