a strategic business partner of Profiles International

a strategic business partner of Profiles International

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Steven J. Chen & Associates

Executive Excellence Coaching.

Succession Planning

May 20th, 2024 by Janet Chen

Dear Dr. Chen

I would like to thank you for helping me with succession planning.  I have worked for 25 years building a successful family business.  In the next few years, I want to retire.  A significant issue I faced was who would lead the business in the future.  I have three children who work in the business.   Two are reliable and dedicated while the third struggles with impulsivity and is unreliable.  I care for all of them and selecting the right successor was difficult.

I hired you because of your extensive consulting experience and through the succession planning process with you, I was able to incorporate new insights and valuable information from assessments.  I discussed various ideas about succession planning with each of my children and discovered that one was not interested in running the business.  The other two had special areas of expertise.  One of them wants to focus more on their area of expertise.  The other enjoys their area of expertise but would also like to be involved in many different processes of the business.  Taking the time to explore the various interests and needs of my children and the business needs in addition to applying the assessment results helped me make a better decision regarding the best candidate to lead the business in the future.

Again, thank you for working with me.  Your thoughtful insights and patient encouragement helped make this potentially difficult situation much easier.  I believe the business will have a high probability of success moving forward with new leadership.

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