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.
Spend one session — with a facilitator if needed — listing what each stakeholder wants, not how to achieve it.
Separate the business from the family
Valuation methodology, governance roles, and transition timelines are business decisions. They should be discussed with the same rigour you would apply to acquiring another company. Family dynamics inform these conversations but should not override financial reality.
Use scenarios, not ultimatums
Presenting two options — “sell to me or I leave” — forces a binary choice that rarely reflects what people actually want. Three or four scenarios (phased buyout, external sale with employment contracts, management buyout with vendor finance) give everyone room to find a path they can live with.
Document interim agreements
Verbal agreements between family members have a short half-life. Even a one-page summary of what was agreed in a meeting — signed by all parties — prevents the “I never said that” problem six months later.
When to seek help
If succession has been discussed for more than a year without progress, or if relationships are deteriorating, external facilitation is not a sign of failure — it is a sign that the stakes are high enough to warrant professional structure. Contact us to discuss whether our advisory model fits your situation.