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Family Business Succession Planning
Wayne Rivers is the co-founder and President of The Family Business Institute, Inc. that has been around for over 28 years. He is an author of four books on family business and has been quoted in many articles for large publications like Forbes, Fortune, BusinessWeek, Entrepreneur, The New York Times, and Washington Post. Wayne is also a Wall Street Journal panelist, a speaker, and has appeared on the Today Show, CNN, MSNBC, and CNBC.
Needless to say, he really knows his stuff! In his 28 years at The Family Business Institute, Wayne has worked with many families in all kinds of situations. On the podcast, he tells us stories of different encounters he has had with families over the years. His main goals are business prosperity and family harmony for all of his family business clients. The biggest question they have to answer first is, are you a business family or a family business?
In today’s episode, you will learn:
Wayne explains how a family business needs to plan ahead for successions to make sure everyone is on the same page with where the business is going. Family businesses need to bring in top talent, not just keep it in the family. He also discusses how these days you always have to be looking to reinvent the business and not become complacent.
“A business’s destruction is sewn, today, with those seeds of complacency because it’s so unbelievably hard to sustain anything over long periods of time. You’ve got to reinvent but the second component of that is so important. It’s the most important thing that I could share with family businesses, is you’re in a people business. Even if you’re in the IT business, you’re still in the people business. If you’re not out there creating a new vision, reinventing your company and then attracting the best people all the time, you’re not going to make it,” says Wayne.
Listen to the full episode to hear more words of wisdom on family business from Wayne Rivers. Thanks to Wayne for sharing his experience with us and I hope you all enjoy today’s episode! Please leave me any comments you have in the section below.
To help out this show, leave an honest review on iTunes. I read every review and your ratings will help the Life After Business Podcast gain exposure and hopefully help more business owners to exit happy!
Contact Information and Bio for Wayne:
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/wayne-rivers-3948451/
Twitter: https://twitter.com/FamBizDoctor
Company Website: https://www.familybusinessinstitute.com/
Company Facebook: https://www.facebook.com/FamilyBusinessInstitute/
Wayne Rivers is the co-founder and President of The
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By Arkona - Intentional GrowthWayne Rivers is the co-founder and President of The Family Business Institute, Inc. that has been around for over 28 years. He is an author of four books on family business and has been quoted in many articles for large publications like Forbes, Fortune, BusinessWeek, Entrepreneur, The New York Times, and Washington Post. Wayne is also a Wall Street Journal panelist, a speaker, and has appeared on the Today Show, CNN, MSNBC, and CNBC.
Needless to say, he really knows his stuff! In his 28 years at The Family Business Institute, Wayne has worked with many families in all kinds of situations. On the podcast, he tells us stories of different encounters he has had with families over the years. His main goals are business prosperity and family harmony for all of his family business clients. The biggest question they have to answer first is, are you a business family or a family business?
In today’s episode, you will learn:
Wayne explains how a family business needs to plan ahead for successions to make sure everyone is on the same page with where the business is going. Family businesses need to bring in top talent, not just keep it in the family. He also discusses how these days you always have to be looking to reinvent the business and not become complacent.
“A business’s destruction is sewn, today, with those seeds of complacency because it’s so unbelievably hard to sustain anything over long periods of time. You’ve got to reinvent but the second component of that is so important. It’s the most important thing that I could share with family businesses, is you’re in a people business. Even if you’re in the IT business, you’re still in the people business. If you’re not out there creating a new vision, reinventing your company and then attracting the best people all the time, you’re not going to make it,” says Wayne.
Listen to the full episode to hear more words of wisdom on family business from Wayne Rivers. Thanks to Wayne for sharing his experience with us and I hope you all enjoy today’s episode! Please leave me any comments you have in the section below.
To help out this show, leave an honest review on iTunes. I read every review and your ratings will help the Life After Business Podcast gain exposure and hopefully help more business owners to exit happy!
Contact Information and Bio for Wayne:
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/wayne-rivers-3948451/
Twitter: https://twitter.com/FamBizDoctor
Company Website: https://www.familybusinessinstitute.com/
Company Facebook: https://www.facebook.com/FamilyBusinessInstitute/
Wayne Rivers is the co-founder and President of The