For anyone who joined me on Day 3 of the Wilson 360 Annual Thought Leaders Retreat (TLR24) in Colorado, thank you. I’d also like to thank Day 3 panel members Kevin McHale, Bruce Moore, Sr., and Doug Stacey for sharing their experiences and strategies on succession planning alongside me.
Having unexpectedly taken the reins of Bland Landscaping Company as a 29 year old, succession planning is a topic that is dear to my heart. As a family business, we did all the right things to plan generational succession, but nobody could prepare for our father stepping away from work at age 55 to care for our ailing mother. I learned a great deal from that experience and it is why I am motivated to help other business owners think about and plan their succession.
As a second generation owner who inherited company stock from a dying parent, bought the remaining stock from a surviving parent, operated as a 50/50 partner with my brother, recapitalized with private equity, and completed seven acquisitions of other family owned companies, I have learned a few things along the way.
Helping owners understand their options and offering them liquidity as one of those options has been rewarding. It is one thing to be able to offer advice, and another to have lived through the whole situation personally and to be able to offer a solution for those who are prepared to exit and enjoy the liquidity they desire.
If you are an owner, and you are exploring options with succession planning, I am here as a resource. Yes, I may be interested in making a cash offer if you want to sell, but whether you are trying to sell or transition to the next generation, I am happy to be a resource for you. Succession is difficult to get people talking about, but a failure to do so can turn into the greatest failure of one’s career.
— Kurt Bland