Wow, for anyone who has been following the hit show, it’s been one hell of a ride! I was watching it from early-on and couldn’t wait for the next hit each week.
The show is based on the Roy family and how the father, Logan, is going to choose a successor for his multi-billion empire (a problem many of us have…right!), while their family dynamic is very messy and seriously damaged, I thought it was amazing to observe how these characters were full of entitlement, mistrust and love at the same time, families eh!
I won’t give too many spoilers away but while Logan Roy ultimately loved his children, he could see that they were ‘not serious people’ which led, in part, to them losing control of the company.
If we learned anything from the amazing, manipulative Logan Roy character, it is that you can never start too early to line up your successor, and got me thinking about when business Owners really think about succession planning.
So many business leaders are obviously concentrating on the NOW, and how to progress the business, it can perhaps be hard to address futureproofing the business.
In a capitalist society, of course we strive for profit, profit means progress, growth, for everyone involved, however, if the right successor is not in place, it will be detrimental to the business. I think it’s important to make plans for what legacy you want to leave behind.
One of the services Marsh Mackey provides is, succession planning, so if you’re thinking about it, and want to chat to professionals, both in terms of recruitment, and tax/finance, give us a call and we’ll help you to formulate a plan; to, ‘avoid a S**t show’, as Logan would say!