Passing the Torch: 12 Steps to Succession Planning

Succession planning is a natural process in a successful business and one that can (and should) be positive and empowering. Our main focus is to provide resources to family businesses so they can begin the succession planning process. The materials and templates provided will help business owners manage growth and plan for transitions, which will ensure the success for future generations to come. Succession planning is a way for business owners to continue their legacy, set a foundation and provide a livelihood for their successors.

The workshops include the tools to address one or more of the twelve steps identified in the full day program developed for the Alberta Business Family Institute by Gary Coskey, one of the first ABFI Executive Professors. The new full day 12 Steps of Succession Planning program is offered in many communities across the province. Attendees receive a workbook in addition to a DVD of tools to assist in the stages of the 12 steps. Topics in the program include, but are not limited to:


Getting Started
  • Determine the owner/manager commitment
  • Consult and advise key stakeholders
  • Set up governance structures
Gathering Information
  • Assemble and analyse key documents
  • Evaluate financial needs
Developing a Succession Plan
  • Determine the vision for the business
  • Determine the successor selection process
  • Design an estate plan
Implementing the Succession Plan
  • Educate, mentor, and communicate
  • Restructure ownership
  • Set up a contingency succession plan
Reviewing the Succession Plan
  • Formal review and re-evaluation process

To Register: email: abfi@ualberta.ca or call 1-780-492-0234


If you would like more information on this program, please contact us.