Local network for next generation owner managers (successors). Small groups. Meetings over two years facilitated by an external including themed topics.
- Business Succession between generations is challenging in many ways due to e.g. lack of experience and knowledge. In order to support next generation a local network among younger successors has been created.
- The problem addressed is to support the successor in the owner manager position:
• Prepare next generation to become future owners and leaders
• Supply next generation with a toolbox
• Let them learn from good/bad experiences
• Networking with peers
- A network of approx. 8 persons are created among young successors from different industries. Only one representative from each industry (confidentiality) as well male/female successors.
- Meetings are held in a period of 2 years, either at the companies and/or at Udviklingvejen. At each meeting a specific theme is discussed. To facilitate the discussion either UdviklingVejen or an external specialist (ex. Lawer, business developer, accountant, mentor etc.) participate.
• Meeting once every 2. month to secure thinking and reflection
• After terminating the network continues at informal basis
Topics are: Professional Board, Business Plan or Strategy, Leadership style, Tax in connection with succession planning, Siblings outside the company, Law/paperwork.
- Before terminating the network a relaxed parent meeting without next generation is held. Here the facilitator present the work/outcome and discuss the best parental support in the coming future.
The amount of financial resources are minimal - an estimate of approx. 10.000,- Euro. which includes:
- Salary for the consultant to organize and facilitate meetings (strong commitment is needed)
- Catering at the meetings including the kick off.
- Gifts for the external speakers. (wine e.g.)
Evidence of success
4 local transfer network with 32 participating companies in total over a period of 6 years in a small municipality shows the success and engagement.
Surveys show a very high satisfaction. Succesions have been successful.
A strong and lasting commitment from the facilitator is needed.
Potential for learning or transfer
The local transfer network has a huge potential on a regional base. It can be arranged among companies with high diversity. It is efficient and smooth to operate.
It does not demand either big investments or development in tools or programme material.
The local transfer network can be easily transferred to any region,
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