Titlebook: Letting Go; Preparing Yourself t Craig E. Aronoff Book 2011 Palgrave Macmillan, a division of Nature America Inc. 2011 business.family busi

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What If You Choose to Hang On?,hey weren’t in the family business. Even though their father has not stepped aside, the three adult children have stayed in the business. He has been honest with them about his plans to hang on, and they have made their own decisions about continuing in the family firm with the full knowledge of their father’s intent.

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2947-3985 ng up control of the family business and explores practical strategies for preparing, managing, and carrying out the decision to do so.978-0-230-11115-8978-1-137-51025-9Series ISSN 2947-3985 Series E-ISSN 2947-3993

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Introduction,I insisted on that idea. While I still think it’s good advice, I learned that it didn’t fit with a tremendous number of family businesses. And because it didn’t, I found that the notion essential to succession, that the incumbent leader will leave the business so that the next generation can take over, needed to be approached in a different way.

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Make It Easy on Yourself,ge in the process in earnest until he was 60, when he called in a family business consultant to help. Still, it took a decade to effect a successful transition, and Collat was 70 when he finally retired.

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,You Don’t “Have” to Retire (but Is Hanging On Worth the Price?),his is my business,” insists Arnold, the 75-year-old founder I and CEO of a family-owned manufacturing company. “I love running it, why should I quit?”

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