Business Succession Planning can appear to be an overwhelming challenge especially when emotions impact business dynamics. However, you can manage the complexities of business succession by understanding and addressing all the pieces of the puzzle.

1. The Rawls Group ~
Business Succession Planning Tools
Family Business Succession Planning Best Practices
Critical Factors Impacting Business Succession Goals
Business Succession Planning can appear to be an overwhelming challenge especially when emotions
impact business dynamics. However, you can manage the complexities of business succession by
understanding and addressing all the pieces of the puzzle. Consider:
OWNER’S ROLE
Motivation & Perspective
Personal Financial Planning
Business Structuring
Business Performance
MANAGEMENT
Strategic Planning
Leadership & Management Continuity
Synergy & Teamwork
Successor Preparation
FAMILY DYNAMICS
Understanding and Unity
Governance
Reasonable Expectations
Succession Success™ Requires More than Basic Estate Planning

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The Rawls Group – Family Business Succession Planning Tools
Understanding the Key Pieces to the Succession Matrix® Puzzle
OWNER’S ROLE
Most business owners believe that they “Have it All Done” through developing wills, trusts, and buy-sell agreements.
Succession planning involves more than basic estate planning. Clarifying your goals, responsibilities, priorities and
opportunities is critical to business succession because your family, management team, and employees look to you for
leadership. The business ultimately takes on your values, goals and objectives.
• Have you developed sufficient wealth independent of the business to support your exit strategy?
• Have you addressed the keep vs. sell contingency?
• Do you have a clear vision for the future?
• Is there mutual respect between family and management?
• Does the next generation have good relationships with your lending institutions for future capital and debt
guarantees?
• Is your business appropriately structured for tax efficiency and to facilitate stock transfers?
• Have you leveraged available gifting opportunities?
• Is business performance optimized to ensure your business can handle the predictable dip in productivity
during business ownership and management transition?
MANAGEMENT
Succession Success™ is not just about getting your “ducks in a row”; it is highly dependent upon the strength and depth
of your management team.
• Who are your key managers? Are they working together to achieve organizational objectives or operating in
silos to meet their personal goals?
• Can business operations continue without you?
• How well does business perform in your absence?
• Have you implemented key manager motivation and retention plans?
• Have you identified successors for each of your key leadership positions?
FAMILY
Preserving family harmony does not happen by accident. It requires a deliberate effort to confront difficult issue while
respecting individual and generational differences.
• Do you have a process for properly hiring and training family members interested in your business and
integrating them into your management team?
• Have you documented and communicated your expectations to family members interested in joining the
business?
• Does your family share a common vision?
• Are the strategic goals of the family aligned with your business goals?
• Is there a forum for reconciling family business issues?