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The World’s Most Successful Dad

Published: 2008 06 15 | Views: 1831
My father, Jack Prehogan, is 86 years old. Today is Father’s Day. If they gave out an award to The World’s Most Successful Dad (which I would define as “the man who best empowers his child(ren) to be the best they can be”), I truly believe with all the objectivity I can muster that he would be right up there in the running if not the outright winner.

Transitioning to the Third Generation

Published: 2008 05 02 | Views: 1738
Despite all the factors pulling against the second generation owners, they have successfully managed to transition from the parent generation to the sibling generation. There were bumps along the way, but most of the kinks have been ironed out and things are running smoothly… for now.

Communication Needed to Make Family Succession a Success

Published: 2008 04 12 | Views: 1743
Picture a highly successful family-owned Canadian business. The owner, a man in his 70s, should be at the point when he can retire and hand off the company to the next generation. But he just can't let go. Or, perhaps more accurately, he won't let go because he doesn't consider his two children -- both of whom are working in the company -- to be ready to take over.

Should Entrepreneurs Learn Rock-Climbing?

Published: 2008 01 07 | Views: 1643
My daughter has always had a strong independence streak. Recently, over a quiet dinner, Kirstie announced that she had selected a university ‘some distance’ from home at which to continue her education. Almost as an afterthought, she added that she had started a new hobby: rock climbing. One evening, I went to watch her at the climbing wall and decided that, despite the safety harnesses, this was not a sport for her height-challenged father, for whom a step-ladder invokes trepidation.

Setting Up Conditions for Success

Published: 2007 11 23 | Views: 1483
I am currently working with two family businesses – one where the founder (Bob) is well into his 70s and continues to rule with an iron fist, and the other where the founder (Jim) is in his 60s and has passed managerial control to a non-family member. These two stories illustrate the difference between being proactive versus being reactive when it comes to succession planning.
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