To Everything There Is A Season

 “For everything there is a season, and
a time for every matter under heaven:
a time to be born, and a time to die;
a time to plant, and a time to pluck up
what is planted; a time to kill, and a time to heal; a time to break down, and a time to
build up; a time to weep, and a time to laugh; a time to mourn, and a time to dance;
a time to throw away stones, and a time to gather stones together; a time to embrace, and a time to
refrain from embracing; a time to seek, and a time to lose;
     a time to keep, and a time to throw away; a time to tear, and a time to sew; a time to keep silence, and a time to speak;
a time to love, and a time to hate;
a time for war, and a time for peace.”

Ecclesiastes 3:1-8

Ecclesiastes teaches us about seasons in life.  The Byrds reminded us of this truth in their song, Turn! Turn! Turn!  Just as seasons change throughout the year, seasons also change in a family business. Sometimes, the changing season means transitioning from one generation to the next. In nature, as winter moves into spring, there are specific changes that occur. Daylight lengthens.  The sun shines warmer.  Trees bud.  Flowers bloom.

Likewise, as seasons change in family businesses, families need to take actively embrace the change and make it a healthy transition, which includes deliberate dialogue, agreed upon timelines, and a plan. Making the change of season for the next generation a healthy one requires planning, training, educating, specific experiences, collaboration between the generations, and preparation for the senior generation’s next phase of life.

Just as we plan for the spring season by putting the hats and gloves and boots back in the closet and by planting flowers in the flowerbed, a family business should prepare for the change of the family’s season by digging into to the following:

1.     Committing to building the family legacy.

2.     Drafting a written plan, along with a timeline, for the transitions to the next generation.

3.     Implementing a feed-back mechanism for the next generation to understand how they are progressing.

4.     Preparing development plans for the next generation that provide opportunities to learn about the values and vision of the family and that provide opportunities to learn about the rights and responsibilities of being an owner of the business.

5.     Forming a team of professional advisors to support the family in the transition process.

Plan for the successful change of seasons in your family business.