Search

WSJ article "How to Know When to Quit Your Job"


Great article by Betsy Morris for The Wall Street Journal. In a family business, knowing when to step aside rather than down makes the difference between a successful transition and one that fails. Power and control are often at the center of generational tension. We suggest "letting them under the tent flap," as Steinbrenner used to say as soon as possible to give them runway to learn how you think. A next-gen family member came to us when their father said he was finally ready to retire in his 80's. Unfortunately, the successor had just celebrated their own 65th and was making plans for their own retirement. We suggest building the competence (read trust) to run the company as soon as possible, giving the next generation the best possible shot at success.

#wealthtransfer #heirs #succession #legacyplanning #familygovernance #trustsandestates #familybusiness #familyoffice #uhnw #hnw #financialadvisors

12 views0 comments

Contact

555 N El Camino Real

Suite 375A

San Clemente, CA 92672

USA​

Tel: 949-940-9140​

info@thewilliamsgroup.org

  • LinkedIn
  • Black Facebook Icon
  • Black Twitter Icon
  • Black Instagram Icon
  • Black YouTube Icon

© The content of this site is copyright-protected and property of The Williams Group

Subscribe Here to Receive Our Content