By C. Aronoff
Letting cross is helping relatives enterprise proprietors and CEOs make the choice to start succession making plans. It presents new methods of wondering giving up keep watch over of the relations company and explores sensible techniques for getting ready, handling, and conducting the choice to do so.
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Love your paintings, paintings for what you're keen on, and alter the world—all on the comparable time.
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Additional info for Letting Go: Preparing Yourself to Relinquish Control of the Family Business
At this stage of life, however, it’s important to accept one’s own feelings, to probe them, and to deal with them. When people can’t do that, they’re going to have problems achieving psychological security. THE ULTIMATE ISSUE Relinquishing control is the ultimate letting-go issue. You haven’t really let go until you have given up not only your job-title 42 LETTING GO responsibilities but also released voting control. At some point, it is extremely appropriate to let go of voting stock. You either conclude that the issues that concern you have been adequately resolved or that your continued input is probably standing in the way of a resolution.
The kids share little in common. Their perspectives and interests couldn’t be more different, except they all love the business. Diversity is good for a company! They can capitalize both on their differences and on the love they share for the business. Talk about sibling rivalry! My sons and daughters always seem to be vying for my attention and approval. In a way, it’s flattering. I need to make sure I’m giving them each enough love and attention. Can I convince them that their individual success is everybody’s success?
But it is also absolutely essential for the CEO to have ongoing dialogues with others. Talking with a spouse, a friend, a family member, a professional, a board member, a treasured key employee, and so on will help you explore the issues that need to be explored. It will help you see how your letting-go decision affects others and the company itself. Conversations with others will help you gain valuable insight and help you shape your thinking and your plans. So keep on talking—and listening. THE SUPPORTING CAST 53 INNER DIALOGUE I’m Worried about Conflict among My Kids They Need Me They Need Me to Leave The kids depend on me to make the major business decisions.