Succession planning is a strategic process that ensures a smooth and sustainable transition of leadership within organizations and family businesses. It involves identifying, developing, and preparing high-potential successors, both within and outside the family or organizations, to fill critical roles when vacancies arise. By proactively addressing succession, family businesses and organizations can safeguard their legacy, maintain their competitive edge, and ensure a harmonious transfer of ownership.
This masterclass will provide participants with a comprehensive understanding of the key elements of effective succession planning for family businesses and MSMEs. They will learn how to establish a solid foundation for succession, identify and develop high-potential successors, navigate governance and conflict, scale beyond the family, and implement practical tools.
Target Audience:
This masterclass is designed for:
- Business and SME owners thinking about the next generation of their business
- Family business owners
- Heirs and next-generation leaders
- Executive leaders
- Financial advisors, Estate planners and HR professionals
Key Focus Areas:
1. Foundations of Family Business Succession
- Fundamentals of a Business Succession Plan:
- Importance of early planning
- Key components (legal, operational, financial, governance)
- Role of the founder in setting the stage
- Legal and Operational Considerations:
- Essential documents (wills, trusts, buy-sell agreements, operating agreements)
- Succession manuals and charters
- Succession planning policies and procedures
- Taxation and Financial Implications:
- Estate taxes, gift taxes
- Transfer of ownership (buy-sell agreements, gifting)
- Financial planning for succession
2. Scaling Beyond the Family:
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- Transitioning from family control to professional management
- Role of external directors and advisors
- Maintaining family values and legacy
3. Practical Tools
- Succession Planning Checklist:
- Succession Planning Checklist
- Document Templates ( Sample wills, trusts, buy-sell agreements )
- Case Studies
Why is Succession Planning Important:
- Understand the critical components of a robust succession plan.
- Develop a tailored strategy for your family business.
- Mitigate risks associated with unexpected departures.
- Enhance organizational performance and maintain operational efficiency.
- Identify and nurture high-potential successors within your family.
- Navigate legal, operational, financial, and governance considerations.
- Prepare for the future of your business, even beyond family control.
Why Choose Our Masterclass:
- Expert-led instruction by seasoned professionals
- Tailored approach to address the unique needs of family businesses
- Practical tools and templates for implementation
- Networking opportunities with fellow family business owners
- Lifetime access to course materials and resources
Meet The Facilitators
PAUL OUMA | Lead Family Business Consultant , Business Advisor and Coach | Institute For Family Business
Paul is a seasoned family business consultant and corporate governance advisor, specializing in helping organizations scale, sustain growth, and ensure legacy continuity. With over 20 years of experience and certifications from the IFC/World Bank and ICF, he offers tailored solutions for family businesses and large corporations.
DIANAH MUREITHI | Head of Legal and Private Wealth | Andersen in Kenya
Dianah is a highly accomplished legal strategist who excels in providing strategic legal advice on diverse aspects of business including governance, securitization, insolvency, business contracts, tax efficient models, intellectual property protection, risk mitigation, compliance, estate planning, trust laws, commercial and corporate law.
She is a renowned as a private wealth lawyer with focus on trusts, estate planning, tax, and business modelling, showcasing extensive experience in tax efficiency, restructuring group holding and managing exits