L. Mitchell Vandiver, III President | Strategies, Inc.
L. Mitchell Vandiver, III President | Strategies, Inc.
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Family to Family: Laird Norton Tyee Family Business Survey 2007, Retrieved December 2011 from http://familybusinesssurvey.com/2007.
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Essential Elements of the Founder’s Plan:
© 2012, Strategies, Inc. All rights reserved
Won’t let go
Lets go to return
Retires and advises
Retires and disappears The Hero’s Farewell, Jeffrey Sonnenfeld, Oxford University Press, 1988
© 2012, Strategies, Inc. All rights reserved
• Based on Need • Relationship Focused • Qualitative • Not by Choice • Permanent
• Based on Merit • Results Focused • Quantitative • By Choice • Temporary
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Vision
© 2012, Strategies, Inc. All rights reserved
We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills. © 2012, Strategies, Inc. All rights reserved
Vision Choose Moon Decade Hard Goal & Measure Serve to Organize Best of energies and skills
Deliberate Clear Destination Understood Timeline Aspirational Accountability Rallying Cry Causes a Result (not subjective)
© 2012, Strategies, Inc. All rights reserved
(1) Lifecycle & Health of the Business (6) Selection & Development of Business Strategy
(2) Family Commitment to the Future of the Business
Vision
(3) Assessment of Family’s Interests and Capabilities
(5) Alternatives
(4) Consideration of Family and Personal Goals
Customer
Financial
Vision
Business Process
Innovation & Infrastructure
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Governance House Family Governance
Business Governance
Responsible Owners
Family Meetings/Council Family Philanthropy/Foundation Family Office
Board of Directors/Advisory Board Chief Executive Officer Control Instruments & Systems
Family Constitution/Code of Conduct
Governance in Family Business, Alexander Koeberle-Schmid, Denise Kenyon-Rouvinez & Ernesto J. Poza, Palgrave Macmillan, 2014
Best Practices Meritocracy brings lasting Liquidity & Legacy
Socialism causes Illiquidity and Liquidation Protect the Golden Goose that Lays the Golden Egg
Current generation must launch and support the process Communicate, Communicate, Communicate and respect individual
strengths and choices The best business families plan one to two generations in advance
Don’t fall in love with your plan – develop a Plan B…
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Family to Family: Laird Norton Tyee Family Business Survey 2007, Retrieved December 2011 from http://familybusinesssurvey.com/2007.
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Essential Elements of the Founder’s Plan:
© 2012, Strategies, Inc. All rights reserved
Won’t let go
Lets go to return
Retires and advises
Retires and disappears The Hero’s Farewell, Jeffrey Sonnenfeld, Oxford University Press, 1988
© 2012, Strategies, Inc. All rights reserved
• Based on Need • Relationship Focused • Qualitative • Not by Choice • Permanent
• Based on Merit • Results Focused • Quantitative • By Choice • Temporary
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Vision
© 2012, Strategies, Inc. All rights reserved
We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills. © 2012, Strategies, Inc. All rights reserved
Vision Choose Moon Decade Hard Goal & Measure Serve to Organize Best of energies and skills
Deliberate Clear Destination Understood Timeline Aspirational Accountability Rallying Cry Causes a Result (not subjective)
© 2012, Strategies, Inc. All rights reserved
(1) Lifecycle & Health of the Business (6) Selection & Development of Business Strategy
(2) Family Commitment to the Future of the Business
Vision
(3) Assessment of Family’s Interests and Capabilities
(5) Alternatives
(4) Consideration of Family and Personal Goals
Customer
Financial
Vision
Business Process
Innovation & Infrastructure
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
Governance House Family Governance
Business Governance
Responsible Owners
Family Meetings/Council Family Philanthropy/Foundation Family Office
Board of Directors/Advisory Board Chief Executive Officer Control Instruments & Systems
Family Constitution/Code of Conduct
Governance in Family Business, Alexander Koeberle-Schmid, Denise Kenyon-Rouvinez & Ernesto J. Poza, Palgrave Macmillan, 2014
Best Practices Meritocracy brings lasting Liquidity & Legacy
Socialism causes Illiquidity and Liquidation Protect the Golden Goose that Lays the Golden Egg
Current generation must launch and support the process Communicate, Communicate, Communicate and respect individual
strengths and choices The best business families plan one to two generations in advance
Don’t fall in love with your plan – develop a Plan B…
© 2012, Strategies, Inc. All rights reserved
© 2012, Strategies, Inc. All rights reserved
