This program consists of two parts of 1.5 hours each.

The first portion of the program provides an overview of family owned and privately held business. We will look at the life cycle every family business goes through. The six critical factors that spell out continuation or termination of the business are highlighted. The nature of the entrepreneur is visited - the strengths and the weaknesses and conflicting objectives that ensue. The need for strategy is clarified. The elements of a comprehensive plan for transfer of the company is explained. Planning for retirement is considered. And in conclusion, the importance of the health of the family is brought into focus.

The second half of the program investigates the 10 Keys to Smooth Succession. In this segment, the presenter's experience in consulting with family owned businesses for 35 years is shared. The focus is upon the steps which are absolutely necessary - to prepare the company, the outgoing generation, the incoming generation and the family - for transition of leadership and ownership to be successful.

Approval Date: 04/00

Phillip Sidwell 12 credits; 6-hour course Specialty: