Succession Planning – Building Value

September 19, 2008 | Link This | Email this | Comments (0)

As a member of the Baby Boomer generation, I am often asked about my perspective in regards to my business views . . .

Dear Ricci,

Is there anything you really want people to know about the Baby Boomer generation from your perspective?

As we were growing up, we were idealistic, altruistic and dreamt of changing the world one person at a time. Vehemently opposed to war and mistrusting of “The Establishment” (flower power), our generation has continuously sought to redefine the way we resolve problems – whether between countries, organizations or individuals.

Then we went through a period where, as we struggled to support our growing young families, we didn’t have enough money or experience to stand up against “The System.” We appeared to give up the idealistic fight and conform so we could survi...Read More

September 17, 2008 | Link This | Email this | Comments (0)

As a member of the Baby Boomer generation, I am often asked about my perspective in regards to my business views . . .

Dear Ricci,

In your opinion, what are the three greatest contributions the Baby Boomer Generation has made to the business world?

1. First is a more holistic approach in defining ourselves and what “success” means to each of us. Our generation took a longer time to discover who we are and what we wanted to achieve. Our generation had the blessing of growing up in a peaceful world and economic prosperity. We had the ability to explore philosophies, cultures, and lifestyles. We did not buy into the old paradigm that, in order to be successful, we had to choose between business and family – but knew we could have it all if we wanted it. Fifty-five isn’t old, we are just in our prime be

September 15, 2008 | Link This | Email this | Comments (0)

As a member of the Baby Boomer generation, I am often asked about my perspective in regards to my business views . . .

Dear Ricci,

What do you most want out of your career at this point in your life, compared to when you began your career as a young woman?

It has been such a long and interesting journey for me! At this point in my life, I feel I am really experiencing my stride in experience, qualifications, maturity and recognition. I am enjoying the respect from my peer group and within our business community – even though I am in a small minority of women who have succeeded in a predominately male-oriented field. I am grateful to be enjoying the financial rewards of a successful career (took lots of grit, guts and perseverance), recognition by my partners, prestige as a requested speaker and writer for many business forums &nda...Read More

August 22, 2008 | Link This | Email this | Comments (0)

Answer: If you have found yourself at the crossroads of frustration, despite the many meetings to negotiate differences between family members, you may be asking yourself this very question. It is my experience that if every time you are close to reaching a settlement between opposing family members, only to have those agreements disintegrate time and time again, there were too many conditions put upon acceptance. Remember: A family is all about unconditional love. A business is all about what have you done for me lately?

In this type of situation, ask yourself:

• What is your family relationship worth to you?
• Is your family more important than money?
• Is your family more important than status?
• Is your family more important than your ‘stuff’?
• Is your family

August 20, 2008 | Link This | Email this | Comments (0)

Where am I going with this? As with many families I have helped through this situation, you’re standing at the precipice of resolution – a hair’s breathe away from putting all of the conflict you have endured behind you and creating a new vision of the future: a family reunited and commitment to succession for the family business. And then, a very sad thing occurs: everyone gets cold feet, backs away from the table and digs their heels in to their original postures. What happened? Why? Whose fault is it?

Does it work to point fingers at each other? No, I think not. Can you look at yourself for just a moment and find out how you participated to reach this current position? Every time you met, you made small but steady progress by sitting across the table, face to face, reconnecting, reminding yourselves ...Read More