DIG Insurance & Business Magazine Fall 2019 | Page 3

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Generation Next
usinesses that carry on for
generations understand that
developing a perpetuation
strategy is how you grow
stronger and grow forward.
Transition means change—and change
is important.
Only about 30 percent of family
businesses survive into the second
generation, according to the Family
Firm Institute. Just 12 percent exist
into the third generation, and about
three percent operate into the fourth
generation and beyond.
What differentiates successes from
failures? It’s not a lack of wanting.
It’s not a lack of passion, hard work,
or commitment. It’s simply a lack
of planning.
At Deeley Insurance Group,
we experienced our own transition
into the second generation. That
included passing down ownership
to family as I moved into this
leadership role, engaging trusted
talent and empowering them to
“own it” as leaders in their areas of
expertise. Perpetuation takes a team.
Ultimately, we embarked on a
rebranding and re-envisioning of our
future that has been exhilarating.
We came together to plan and
prepare, and we are growing stronger
because of it.
What’s your plan? How will you
transition your business to the next
generation—and beyond? In this
issue, we’ll share stories of three
successful local companies that are
passing the torch to “generation next”
and offer their insights. And because
transition impacts every aspect of your
business, you’ll learn how it presents
opportunities to mitigate risk, train
your people, and protect your assets.
DIG into our Fall 2019 issue. Feel
energized and empowered to change
for the better. We are inspired by your
stories. Keep sharing with us. +
DIG in!
Laura Deeley Bren – President
DeeleyInsurance.com
THANK YOU
This issue is made possible by
our generous sponsors.
These companies have your
security at heart and teamed
with us to bring you these
practical, inspirational articles.
Thank you!
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