During my years of consulting with family-owned businesses, I have encountered a number of mistakes made by the older generation when they have tried to transition their company to the next generation. During the transition, they were not aware of making any mistakes, only to find out in later years they had wished things were done differently. In consulting with families today I try to warn them against some of the pit falls ahead of time by looking at what the future result would be if they do not change their current path.
About Les Banwart
For nearly 40 years, Les has specialized in meeting the specific needs of family-owned businesses by facilitating family meetings in helping families through a transition. He is the CEO of Banwart Strategies, and has been affiliated with Aileron since it’s inception in 1996. Prior to Aileron, he served as president of CYMI, Ltd., a family office located in Dayton, Ohio, which hired him to build the business from the ground up. Prior to CYMI, he was a partner at Arthur Andersen, where he served closely-held businesses for 25 years. www.banwartstrategies.com