Top Family Business Coach Singapore

May 7

What proportion of your family wealth is tied up in the operating family business? According to Camden Research’s recent report, succession is a greater priority for families than wealth preservation. Of the two, succession is surely the harder to achieve.

While we all push cliches and statistics about the survival of family businesses over three generations, perhaps we should be broadening our perspective? A family operating business is one store of wealth for a family, and one which is capable of employing multiple family members.

Another phrase currently doing the rounds is “business family” – a family whose wealth is well diversified and includes a number of operating assets. Such a family must focus on establishing strong governance for their assets, including rules by which family members can be involved in the operating assets, or draw on the family wealth to start new ventures of their own.

Such a structure, done well, is far more robust from a succession perspective, as it allows children who may not want to join the family business (and this is an increasingly common phenomenon) to do their own thing and still be part of the family asset base.

Consider This: Do your children want to follow in your footsteps? Have you ever asked them? Are your parents pressuring you to follow in their footsteps?

Are you looking for advice on how to make your family business in Singapore operate better? David Werdiger is the number one choice when it comes to Singapore family owned business protocol help. Mr. Werdiger is helping hundreds of family owned businesses pass the torch using his famous Singapore Familosophy techniques

His market is two-fold:

Scenario #1: The older generation wanting to work with the younger generation, bring them into the company, teach them how to run things, and then retire from the office, but not the income

Scenario #2: The younger generation wanting to jump into the family business, but to be able to contribute and be heard, and not having to “wait their turn” before they can begin to help run the business.

Visit David’s Website at: https://davidwerdiger.com/ or his GMB site at: https://goo.gl/maps/YiKUeBhXzapPAYyP6

Purchase the Familosophy book at https://www.transitionbook.co/international-free-book-1

Learn more about Familosophy at https://bizcourse.transitionbookbonus.com/sales-promo

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SOURCE: https://davidwerdiger.com/2021/03/governance-principles/