1. Successful Family business Transition Doesn’t Happen by Accident!

2. Plan for the sale or transfer of your business  Prepare in advance for the sale or transfer of your business following an event such as  Premature death  Disability  Divorce  Retirement

3. Don’t let your family owned business become a statistic!  Over 90% of all business enterprises in North America, and the majority of businesses internally are family owned  Only 30% of all family-owned businesses survive into the second generation  Only 12% make it to the third generation  Only 3% of all family businesses continue to operate at the fourth generation level and beyond

4. Prepare by communicating  One of the greatest problems facing succession planning in most family businesses is the failure of the current owner(s) to communicate effectively with all family members  If future generations fully understood each other and both supported a common plan for the future of the business, there would not be such dismal statistics on keeping the family business in the family.

5. The Typical Business Plan  Working with a typical advisor the business owner shares his/her desires without benefit of family members input  The business owner frequently want to have “all children” treated equally  This is the reason why statistics are so appalling

6. The FBR Plan  The Family & Business Renewal Model was designed to understand more completely the wishes of not only the business owner, but everyone else in the family as well  The core of the process for a Wealth Transfer Specialist is to assist business owners in determining what the business owner’s desire is and to do what is best for both the family and the business  With the backing of the business owner the FBR planning process becomes a powerful tool with real prospects for success