Dear entrepreneur
To be able to let go is no easy thing for many successful entrepreneurs who, for a long period in their lives, have carried the sole responsibility for their operation. Many small- and medium-sized companies in Switzerland start planning the succession of the entrepreneur too late. The motives behind this are by no means dishonest. Several reasons, which time and again allow the entrepreneur to postpone finding a solution to this final important task, frequently combine. A few of the multitude of reasons are shown below:
- Shortage of spare time to go into planning in the necessary depth.
- The conviction that the entrepreneur will remain fit for a long time yet and up to the task.
- Managing the company is seen as the whole reason for existence. The creation of other fields of activity is therefore neglected.
- There are projects under way that the entrepreneur would really like to bring to a conclusion personally.
- The entrepreneur more and more has doubts as to whether potential successors in the family are really capable.
- The entrepreneur wants to wait for just-looming market trends.
- Predominantly negative reactions are feared from suppliers and/or customers.
- etc.
The successful building up and management of a company is quite another cup of tea from the successful planning of succession. Why is this?
Building up and managing a company calls for initiative, while planning succession calls rather more for reserve and sensitivity.
In general, a successful entrepreneur is distinguished by his decisiveness. Here too, he has to hold back vis-ŕ-vis his successor and can, at best, only subtly lead him to a decision, which is something he has probably never before experienced in his life. Many years of strong grip were called for, now the entrepreneur suddenly has to stand back and more or less twiddle his thumbs. Throughout his life, he acted according to his own convictions, now he has to tolerate and accept the different, perhaps even conflicting, opinion of a successor.
But nevertheless, timely succession planning greatly increases the chance of the company’s survival in the next generation.
We have experience of how this delicate matter can be tackled. There are no clever or model solutions. Each company has its own individualities that call for personalized solutions.
We would be pleased to support you in an advisory capacity. For this purpose, we gladly invite you to come to ITAG for a preliminary discussion, without obligation. During this discussion, you will be able to form an opinion of us, which will help you to decide whether you would like to enlist our services or not.
