Coaching for the transfer of a family business
Putting the personal aspect first
At a certain point, a transfer of ownership becomes relevant in a family business. The Director and Majority Shareholder (DMS) of the family business retires and transfers the company to the next generation or sells it to third parties. Business succession can make a family business very vulnerable, especially due to the personal aspect involved.
Merlijn places the personal aspect at the forefront in its guidance for this reason. An important condition for a sustainable and successful transfer is open communication within the family regarding the personal interests of those involved right from the start of the business succession. Guidance from a Merlijn coach with a focus on “Putting the personal aspect first” can help in making hidden interests discussable as well. Furthermore, this approach can have a unifying effect within the family.
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What does coaching in family business succession entail?
With a focus on the personal aspect, the Merlijn coach guides the CEO in preparing for addressing the financial, fiscal, and organizational aspects of the succession. When the CEO knows what he (or she) and the family members want – both professionally and personally – he can engage technical advisors such as an accountant, tax consultant, and banker with a specific focus. They can then work more quickly and effectively on their tasks. The Merlijn coach involves not only the CEO but also the spouse, (grand)children, and other involved family members in the process, and supports them in articulating their personal goals and interests in the business transfer, as well as facilitating open discussions among them.
What questions can you bring to a coach?
- Am I passing the company to my children or selling it to third parties?
- How do I handle it if multiple children have an interest?
- What does transferring to one child (with a partner) mean for the other children?
- How can I potentially remain involved in the business leading up to and after the transfer?
- What are my personal plans (and those of my partner) after the transfer?
Reasons to choose a coach for the transfer of a family business
The transfer of a family business involves a lot. The dynamics will shift, with all the associated consequences in the family dynamic. That can be very sensitive. A Merlijn coach understands the potential issues that can arise during the transfer of a family business and prioritizes safety and trust in the personal aspect to facilitate open conversations with all involved parties. After the guidance, you will have clarity about your and the family’s situation, and decisions in the business aspects of the transfer can be made more efficiently.”
The advantages of coaching during the transfer of a family business are:
- Reflection on the origins and future of the family business.
- Insight into the interpersonal dynamics within the family
- Clarity regarding the wishes, interests, and goals of all involved parties
- Thorough preparation for the business aspects of the transfer
- Understanding life after the transfer
Would you like to have a discussion about the possibilities of personal coaching? Feel free to contact us without obligation.
Tailor-made program
1
In response to your question, our Quality Manager from the Coaching Unit is investigating the most suitable coach for you.
2
We will connect you with an experienced coach with whom you will further explore your coaching needs and with whom you can begin the process.
3
We provide a customized quote, where depending on the preferences and coaching needs, coaching can take place online, at your home, at an employer's location, at the coach's practice space, or at one of our Castle locations.
Involvement of coaches in business transfer
What can Merlijn mean for your coaching question?
The guidance of the Merlijn coach consists of several steps, as outlined below. Variations on this communication approach are open for discussion if desired.
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Step 1
An introductory meeting beforehand with the CEO (Managing Director) and, if possible, the partner
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Step 2
A questionnaire to be filled out by all parties involved
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Step 3
A Collect and Decide Note prepared based on the answers, which everyone receives prior to the family gathering
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Step 4
One or more family meetings for further clarification among each other and for making decisions
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Step 5
A written report of the conclusions from the family discussion.
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