Succession talks for any family business – be it the fictional Roys of the HBO show “Succession,” or the real-life examples of the Murdochs or the Guccis – can be challenging at the best of times and ruthlessly dramatic at the worst.
“Succession triggers a nerve,” said Anish Quenim, instructor and director of the Alderson & Griffin Center for Family Business & Entrepreneurship (AGCFBE) at the Jerry S. Rawls College of Business. “It’s like you’re telling the family someone’s going to die. The truth is, it’s not planning to die; it’s planning if dead.”
The same difficulties that face families in the public limelight are the ones facing ranching families across the U.S.
Texas Tech University is providing some much-needed support to those ranching families.
Quenim co-led the development of the Families in Ranching Succession Toolkit (FIRST), which officially launched Sept. 25 during a McCoy Family Speaker Series event held by the AGCFBE at the Museum at Texas Tech.