The Importance of Planning in the Business Succession Process.
Transition Companies Family Succession Planning by Gene Sartin.


The Transition Companies understands the significance and importance of Business Succession Planning. But before the Business Succession Plan must come a Family Succession Plan. When creating a Family Succession Plan, the needs and goals of each family member are important. The Family Objectives become the fundamentals for the development of the Succession Plan for the Family Business, according to Gene Sartin, CEO of The Transition Companies.

We believe at The Transition Companies that it is critical to advance an executable Family Succession Plan long before the Business Succession Plan. Gene Sartin has noted that a business owner will expend much time and money putting together a plan without experienced outside help. It is very likely that this plan will fall short of reaching the desired outcome.
The Transition Companies understands the significance and importance of Business Succession Planning. But before the Business Succession Plan must come a Family Succession Plan. When creating a Family Succession Plan, the needs and goals of each family member are important. The Family Objectives become the fundamentals for the development of the Succession Plan for the Family Business, according to Gene Sartin, CEO of The Transition Companies.

We believe at The Transition Companies that it is critical to advance an executable Family Succession Plan long before the Business Succession Plan. Gene Sartin notes that a business owner will expend much time and money putting together a plan without experienced outside help. It is likely that this plan will fall short of reaching the desired goal.
According to Gene Sartin CEO and founder of The Transition Companies, an insufficient succession planning process often ends in failure after parental death. At The Transition Companies, we have found that many such Business Succession Plans are only finally revealed to the entire family during the reading of the owner's will. Therefore, the legacy the parents wanted their children and grandchildren to receive is lost due to greed, strife and the lack of collaboration in the actual planning process. We believe at The Transition Companies that the Family Succession Plan should focus on two principles. One, it should include methods to put the business interests ahead of the family interests and two, it should promote merit over family rank.

Gene Sartin advises all Business clients of The Transition Companies to obtain knowledgable outside professional help for Family Succession Planning far in advance of actual implementation to create the best of all outcomes.

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