Transition & Succession Solutions - North Group Consultants

Every business owner eventually starts to contemplate the future and what is to become of their hard work.

I want my business to outlive me.
I want to leave my employees and customers in good hands.
I wish I could create a sustainable legacy for future generations.
I just want to transition into the next phase of my life with a sense of peace.
I want to maintain family harmony and resilience that benefits the business.
I want to make sense of the complex and competing priorities and find a clear path forward.

Now, these outcomes may seem hard to reach, but they are the natural result of a well-planned transition process. At North Group, we develop leaders and organizations towards their highest potential. One way we do that is through a principles-based approach to helping our clients transition to the next generation of leadership and ownership of their business. Often, families are an integral part of these transitions.

We Quarterback the Planning Process on Your Behalf

The planning process requires the coordination of many details, conversations, and priorities, and it involves various stakeholders and professional advisors. We orchestrate the entire process to maximize efficiency—keeping all parties informed and working together.

We Simplify the Complex

We thrive in complex client situations that require intricate and diligent coordination, such as:

Significant enterprise value or family wealth
Multiple entities under common control
Both family and non-family shareholders
More than one class of stock
Multiple locations and/or multi-state issues
Significant philanthropic intent
Multiple family lines in the business
Having more than two generations active in the business

An Effective Succession or Transition Plan Must Be Built Around Several Key Pillars

Organizational Health

A strong organizational health and culture is your foundation.

Change inevitably reveals underlying issues and challenges in any organization.

Are these issues or challenges well-known to your organization?
How will you move forward once these challenges are revealed?

Leadership

As the exiting leaders prepare to move on, it is important to develop a clear standard.

What is expected of their successor(s)?
What timelines are in place?
What pathways are available?
How do we prepare the next generation of leadership?

Ownership

Ownership and ultimate control must also be transferred in a family or privately-held business transition.

All of the following matters must be thoughtfully addressed.

Practical
Emotional
Technical

Family

In a family enterprise, the family is the glue that holds everything together.

Generational and cross-generational alignment around values and family legacy must be clear.

To support all other pillars, our team will:

Convene family meetings
Build alignment
Adopt key policies

The North Group Approach

In recognition that each business, leadership team, and family are unique, we avoid formulas and are in favor of a principles-based framework that provides the basis for a durable and adaptable plan.

Assessment

We start with an assessment that provides a snapshot of your organization's health, history, and family.

Collaboration with Other Advisors

As early in the process as possible, we begin communicating with your existing professional advisors. Our services are complementary to those provided by your attorney, accountant, financial planner, and other advisors.

Sudden Event Preparedness

We ensure that a contingency plan is in place to cover unexpected tragedies. The likelihood of this occurrence is very low but the implications can be disastrous so it’s prudent to be prepared.

Stakeholder Alignment

A significant amount of effort is dedicated to the facilitation of meetings with the goal of building clarity and alignment around key objectives and timelines. This often includes meetings of the board, leadership team, owners, next generation, family, and advisors. The scope is fully dependent on the complexity of your unique situation.

Implementation and Monitoring

The process culminates in a formally documented plan that guides the transition and provides clarity and consistency for all stakeholders. Certain aspects may occur immediately and others may occur over time or at some point in the future.

Want to Learn More About North Group’s Transition & Succession Solutions?

Contact Brian Black
(717) 299-9800
bblack@northgroupconsultants.com

Blog, Podcasts, Case Studies

Jan 7, 2025

Family Business: “Shirtsleeves to Shirtsleeves” or Hope for the Future? (Podcast Ep. 41)

By Jerry Murray

Join Jerry Murray, Leron Lehman, and Brian Black in this episode of The North Group Podcast as they discuss the outlook on success for family businesses. Statistics claim that less than half of family...

Jan 2, 2025

The Power of Shared Values | The Agriteer Merger Story (Part 3 of 3)

By Craig Schloneger

How many times have we walked into a meeting feeling skeptical—about the people, the topic, or the outcome? I know I have. I often enter with preconceived notions or worry that a difficult conversatio...

Dec 18, 2024

The 3 Key Players | The Agriteer Merger Story (Part 2 of 3)

By Josh Keefer

In this video, Josh Keefer highlights our recent podcast where Roger and Craig sat down with Eugene Hurst to discuss the merger that led to the creation of Agriteer. Their conversation focused on the ...

Dec 3, 2024

Cultivating Unity | The Agriteer Merger Story (Part 1 of 3)

By Roger North

In Episode 40 of The North Group Podcast, Roger North is joined by Craig Schloneger and Eugene Hurst, CEO of the newly formed company Agriteer. Agriteer was created from the merger of two leading agri...

Nov 4, 2024

Camper of the Week | Nikki Shingle’s Story (Part 3 of 3)

By Jerry Murray

One of our deepest held beliefs at North Group is that “All people are created by God for a special and unique purpose.” We are convinced that everyone is gifted in their own way, and these gifts are ...

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The Power of an Ending | Josh Fisher’s Story (Part 3 of 3)

By Brian Black

Josh Fisher’s story, as narrated through our recent podcast, reflects the significant moments when he set things aside in his life, only to find new opportunities or pathways emerging in their place. ...

Apr 17, 2024

The Interconnectedness of Life | Kevin’s Story (Part 3 of 3)

By Daryl Leisey

In our latest podcast, Roger North sat down with our colleague and friend, Kevin Lorah, to discuss his path from neonatologist to consultant. Their conversation brought to light the importance of reco...

Feb 27, 2024

Trade-offs

By Leron Lehman

Good, Fast, or Cheap. Pick two. Maybe you have seen a sign like this at your neighborhood mechanic. It is both clever and true and it captures the essence of trade-offs. A point I make to my children ...

Feb 1, 2024

Jiro Dreams of Sushi

By Leron Lehman

Jiro Dreams of Sushi is a 2011 documentary about a Japanese Sushi Master in his 80s who built a Michelin three-star sushi restaurant. The story is intriguing, in part, because it is so unusual and unl...