Seeking Succession: How to Continue the Family Business Legacy, Second Edition - Softcover

Rawls, Loyd H.

Softcover

ISBN 10: 0974811009 ISBN 13: 9780974811000

Publisher: Family Business Resource Center, 2004

Synopsis

"This business is like one of my children, it's part of my soul.  It is a member of our family, even though it doesn't have skin and bones like the rest of us, I've devoted my adult life to its development, just as I have done for each of my children.  For this business to fail and not succeed to the next generation would be a tragedy" Most often, a family business represents a child or sibling.  It is a member of the family "brought" along to family meals and vacations.  Beyond family history it provides security, status, lifestyle, and legacy.  So "How Do You Continue the Family Business Legacy?"  
Every once in a while a new book comes along that provides a fresh perspective on a seemingly age-old topic. That's the case with "Seeking Succession" by Loyd H. Rawls (Horizon Business Press, 2004). The book starts where succession considerations should - with strategic financial and business planning. It goes on to cover leadership teams and estate planning, and gives smart insights about the generation in power, successors, and in-laws. 
Rawls' writing is clear, colorful and happily free of psychobabble. Compelling case studies exhibit a lot of wisdom about family businesses, written by an author who has clearly worked with many of them for a long time. "Seeking Succession" provides practical guidance on how to structure a compensation plan for employed family members, insight on how behavior and attitudes of successors sets an example for the conduct of other employees, and the critical role key manager's play in the business.
Business succession involves much more than meets the eye.  A coined word by Rawls "Succession Success® involves not only the transactional transition, but the transition of ownership, leadership, management and culture. 
Through the real-life case examples, Rawls guides you through the steps that must be taken to protect a family business for future generations. The stories show that with diligent effort, success is within the grasp of families truly seeking answers to succession dilemmas. The solutions Rawls lays out are well destined to lead to effective win-win solutions.

About this title

From the Back Cover:

If you are a family member in a family-owned business, you owe it to yourself and you owe it to your family to read this book. Through his featured column in DEALER Magazine, Loyd Rawls has been on a crusade to help automobile dealers solve what may be their biggest solvable problem... planning the inevitable succession of their business. This book's real-life examples and anecdotal style make a complicated subject easy to understand."
Michael Roscoe, Publisher & EditorPublisher & Editor, DEALER Magazine 
"Loyd's book was extremely insightful and very helpful to a professional such as myself whose practice deals with family disputes on a regular basis. The stories Loyd recounts hold up a mirror for many families to see themselves. The stories show that with diligent effort, success is within the grasp of families truly seeking answers to succession dilemmas. The solution principles Loyd lays out are well destined to lead to effective win-win solutions."
James F. Page, Jr., Certified Mediator, Attorney at Law, Page Mediation
"Loyd has done a superb job in helping my family plan for succession and in putting together an estate plan. Loyd has not only been a good friend, but a mentor to the future generation of leaders to come along in my business. He has also  counseled with the wives of the owners of our businesses when the need arose. I have recommended Loyd to numerous friends of mine in all sorts of businesses, and he has performed an invaluable service to each person to whom I have recommended him."
Louis C. Bachrodt, III, President, Lou Bachrodt Chevrolet

About the Author:

Loyd H. Rawls is one of the nation's leading succession planners. Since 1973, Mr. Rawls and the partners of The Rawls Group have provided business succession services for the owners and key executives of closely-held, capital intensive businesses throughout the country. 
Mr. Rawls is a graduate of North Carolina State University. After serving 4 years as an officer in the US Air Force, Loyd began his career as a financial planner.  Loyd is a Certified Chartered Life Underwriter, Chartered Financial Consultant and has a Master of Science in Financial Services from the American College.
After approximately five years as a financial planner, Loyd expanded his knowledge and began specializing in the complex arena of business succession planning. As Loyd presented his succession planning concepts and processes, he recruited partners from various career fields that impact business succession, such as business management, management training, strategic planning and interpersonal relationship facilitation. In 2000, Loyd developed the concept of an analytic tool to empower business planning professionals to assess Succession Positioning and, subsequently, became a co-founder of the International Succession Planning Association. 
Loyd is a frequently requested speaker by local, state and national organizations. An avid writer, Loyd has published four succession-focused publications: "Seeking Succession - How to Continue the Family Business Legacy," "The Succession Bridge - Key Manager Alternatives for Family Owned Businesses," "Your Golden Goose," "The Family Business Council", and "Estate Planning Heartburn Relief - Answers to Gut Grinding Estate Planning Questions." In addition, Loyd's columns are frequently featured in Family Business Magazine, BottomLine Business, DEALER Magazine, Expert Business Source online blog and RV News. Loyd resides in Orlando, Florida with his wife Pat and they have three children: Amy, Kendall and Champ.

About this edition

• Publisher: Family Business Resource Center
• Publication date: 2004
• ISBN 10: 0974811009
• ISBN 13: 9780974811000
• Binding: Paperback
• Edition number: 2
• Number of pages: 344