Episode 52
SUCCESSION PLANNING with Stephen Shortt
No, not the hit TV series about a dysfunctional family dynasty with the siblings at war over who succeeds the founding father (who still wants to retain a powerful presence in the company).
With virtually every dealership or supplier in the agri-turf sector being a private family business, the challenges associated with deciding who is best equipped to take the business forward in a changing world are very real.
I talk to Stephen Shortt, a leading small business strategist about the tensions, the planning, the dynamics, and the personal ambitions that come into to play when deciding on succession issues.
Each family set up is different. Sometimes succession is a straightforward matter, at other times when several family members are involved, damaging conflicts can arise that can spread from the boardroom, to dining room and even the bedroom.
Speaking from personal experience, Stephen outlines how potentially serious family disagreements, often as a result of dogmatic attitudes, can be diffused to the benefit of all concerned when deciding on succession planning
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