Field Notes

Succession conversations that actually move forward

Succession is the decision that Australian family businesses postpone longest. Not because owners are careless — because the conversation touches identity, fairness, money, and relationships simultaneously. Without structure, every discussion becomes emotional and inconclusive.

Start with outcomes, not mechanisms

The first mistake is jumping to “sell or pass on” before agreeing on what each person actually wants. One sibling may want to continue operating. Another may want liquidity within five years. A third may want involvement without day-to-day responsibility. These are different outcomes requiring different structures.

Three questions before any major capital investment

Capital investments feel decisive. They are also the decisions most likely to be made on optimistic projections and incomplete information. Before your board or leadership team approves a significant capital commitment, work through these three questions.

1. What problem does this solve, and is it the right solution?

A second warehouse solves a capacity problem — but only if capacity is the actual bottleneck. We have seen businesses invest in additional space when the real constraint was order processing speed, supplier lead times, or product mix.

When to bring in outside help for a business decision

There is a point in every growing business where a decision becomes too important to make in a Tuesday afternoon meeting and too specific to hand to a general management consultant.

We see this most often when revenue crosses $5 million and the leadership team is still small enough that everyone has a personal stake in the outcome. The decision might be about opening a second site, restructuring the partnership, or committing capital to a new product line.