When a generation change at the head of a company is imminent, there is always a period of uncertainty for all involved parties. The interests of the predecessor, the successor, further associates, employees, banks and many more have to be considered. This whole process plays a very important role concerning the future business success and has at the same time a vast conflict-potential.
I recommend clarifying this process right from the beginning – even if there are no recognizable conflicts. For a prosperous succession it is necessary that all involved parties communicate and that they share their needs and interests on which they base their decisions. Ideally, this happens timely and based on the process of mediation – so that conflicts cannot even establish.
“Figures, business plans, etc. are important, but they only help, if you talk to each other. Communication is the Alpha and Omega.” Patrick Hincker, successor of Die neue Linie GmbH.