Family-owned Business

Generation Change

4 Participants

Both generations in the family collaborated and discussed 'pros and cons' for the different exit strategies.

Challenge

A small family-owned company yet with a huge market share in Denmark where challenged with what exit-strategy the founders should chose within the next 5 years due to retirement.

Should they sell right away to their competitor due to their current position in the market or should they wait 5 years to sell or start handing over the keys to the next generation in the family.

Results

The results of the 1-day Rapid Solution Workshop was firstly, insights to possible future scenarios for the company and clarification of any dilemmas associated with them.

Secondly, in groups they identified opportunities and implications for each scenario.

Thirdly, they prioritized each scenario based on each individual preference. This became foundation for discussion to reach an alignment on which future scenario that was most attractive to proceed with.

Outcome

Achieved alignment and commitment for a decided scenario and what necessary changes they, as a family, need to initiate the coming 3-6 months to reach a 5-year exit strategy.

Ensured that the whole family had confidence and will take responsibility in implementing the future strategy for the company.