HOW LAWBERT CONSULT & AGENCIES (U) LTD HELP YOU BUILD A BRIDGE FOR THE NEXT GENERATION
Training
We offer training programs which helps your family learn how to revitalize your success in business and how to integrate the second generation into the plan.
It explores the critical elements of managing and owning a high-performance family business, and preparing for the family’s first generational transition—no matter how distant that transition may be. On this point, it is not about revitalising but how to manage individual property and sustain the same after demise by your predecessors or beneficiaries.
Feasibility study
Our experts help you to explore the complexities of family businesses and the disruptive forces acting on businesses today; family ownership and how to structure and pass it effectively; how to keep the family united and contributing to its enterprise; and how the founder and next generation can partner effectively.
We stimulate new thinking and promote engaging discussions about the issues affecting family companies at the founder stage face. Widen this to include feasibility study to advise on the suitability of investment in the estates.
Business model proposals
In addition, we give families private discussions led by an experienced coach to address the topics on their particular agenda which help a family become clear about its goals, capabilities, challenges, and options. By the end of the program each family leaves with an action plan that they can implement going forward..
Documentation;
Depending on the model preferred by the family, we prepare clear and water tight documentation that bind and benefit all generations and which guard against emotions, intrigue and strife among the family members. This should capture sale agreements if the feasibility study requires sale and reinvest in another property or estate.
Transitional management services
Aware of the transitional challenges like inadequate leadership and management abilities, we provide management, leadership and organisational services for adequate preparation of the next generation to take over the management of the business after the demise of one generational leadership.
Continuous support in form of consulting services
Transitional challenges
Successful founder-stage businesses are enviable powerhouses in many ways—innovation, growth, and returns on assets to name a few. Much of the company’s success—at least for a while—is due to the strengths of the founder and the organization of the company around him or her. But overreliance on the founder makes growing beyond the founder and transitioning the company to the next generation of the family very challenging. Extending success beyond the founder stage typically requires:
- Bringing qualified family members of the next generation into the company or onto the board of the company, developing loyal and supportive owners, and building unity and high standards in the next generation.
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Addressing sibling relationship issues, or other family relationship challenges, that paralyze decision-making or threaten family unity.
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Fairly compensating and rewarding family and non-family contributors to business success.
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Encouraging a timely taking charge of responsibilities by the next generation and the transfer of responsibilities by the founder so the company and family maintain strong momentum.
- Partnering between generations in a mutually advantageous manner
Added to these traditional requirements are factors that now dramatically affect the success of first-to-second generation transitions: new and often disruptive forces acting on industries and businesses; new generational attitudes about careers and lifestyles; advancements in human longevity; new sources of investment capital; and more plentiful buyers for a family’s successful business. These present both challenges and opportunities for future family and business success.
Much needs to eventually change in generational transitions: the leadership team in the company and how decisions are made, the governance system, eventually the ownership group of the business, even family relationships tend to change some as the next generation assumes responsibilities and authority. Understandably, with roles and relationships shifting, these first-to-second generation transitions are often complicated and emotionally sensitive experiences.
Needless to say, to beat the odds against survival and continued success requires a disciplined game plan.
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