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January 2012 Book Review

January 31, 2012

Seeking Succession: How to Continue the Family Business Legacy

Written by Loyd H. Rawls 2nd Edition ©1999-2004

 

The author of this book is a practitioner and a principal in his own financial planning firm.  We emphasize that because therein lies the value and credibility for any family business founder. 

This is an excellent resource for any member of a family business, particularly in the area of financial planning, whether or not one might be ready to ‘exit’ your business.  The information and advice regarding regulations, taxes, estate planning etc. will be invaluable.  Interestingly Mr. Rawls also ably tackles other management and family issues such as succession, communication and family relationships.

 

The format of the book is quite helpful, with case studies in each section which are additional learning options to the reader should they require more application to the concepts and principles he teaches.  We found the book quite optimistic about a family’s ability to grapple with and finally master major dilemmas in the areas of succession, exit or difficult familial relationships.

 

This book is not a quick or easy read per se but definitely a resource that any founder/owner would be remiss to have not read.  By the way, if you are going to order this book, be sure to order the 2nd edition, the changes from the first edition are very important.

 

Renée Montoya Lado M.S., N.C.C

President, Strategic Designs for Learning

Family Owned Business Network  Book Review Chair & Editor

Natalie McVeigh, MBE

Research Analyst, Strategic Designs for Learning

 Family Owned Business Network  Senior Book Reviewer

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