Overview

Only 40% of family-owned businesses reach the second generation, 13% get to a third, and just 3% are passed down to a fourth generation or beyond. Using real-life case examples of successful multi-generational businesses, this book gives you everything you need to know to ensure your family business legacy. Charlie Leichtweis is one of those rare individuals who can help you understand WHAT your organization needs to be doing and HOW to do it. With more than 40 years' experience, he specializes in serving family businesses as a C-suite executive, consulting advisor, and as a board member.

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Reviews

"Running a family business is challenging enough without having to go it alone. Learning from others' journeys, mistakes, and successes is the best way to evolve one's thinking. Charlie Leichtweis has masterfully compiled stories and insights that, when implemented, will help make your family business legacy a success. Meghan Juday, Chairman of the Board, IDEAL Industries, Inc. The inner workings of a generational family business can be incredibly difficult to navigate, however Charlie has created a roadmap for success. This book is a must-read for every family member involved in their family business, especially those who are looking to pass the business on to the next generation, and those who are yearning to take over from the previous generation. It will help every family avoid the pitfalls of family business ownership and legacy mapping and is something I wish I had when working on succession planning with my father and uncle. Jamie Shyer, Co-CEO/COO, Zyloware Eyewear The Power of Legacy model is a great one to help families to frame their discussions and a way to see the bigger picture, I believe. One sentence that stood out for me was, 'As long as you understand the principles, it's my experience that you can use them to get everyone to agree to move your business into the future, rather than into court.' To agree to move forward is it. It's not about agreeing on everything but about agreeing on the direction. The Personal Phases section is a really important part of the planning process that gets overlooked too often, and that has consequences. I really enjoyed it and love the practical approach he takes. The quotes from real family business owners and the questions and reflections at the end of each chapter brought each section to life. Elizabeth Bagger, Founder of Avanti Family Business Advisory, and former Director General of the Institute for Family Business in the UK. ""The Power of Legacy is the definitive guide and an actionable handbook for family businesses at all stages and at any generational inflection point. You'll reap the benefits of Charlie's decades-long experience with family businesses, and the wisdom of countless leaders he has interviewed and supported. As Charlie notes, 'Even families who have figured it out haven't always figured it out. Figuring things out is complicated.' This book will help you through that complication so YOU can be the family member who figures it out!"" Katherine J. Armstrong, Founder, The Cusp Connection, LLC"

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