Keys to Generational Transition Discussed at Owner Transition Forum

July’s Owner Transition Forum, sponsored by Platinum Group, was a shining testament of how transition goals were aligned with family and personal values, according to Platinum Partner Steve Coleman. The monthly forum, via Zoom, featured father-son presenters, Mike and Matt Norman, updating the progress of their 2011 succession — the Dale Carnegie Training franchise in the Upper Midwest.

Transition goals discussed included: keeping the company’s whole team in place; building the Norman family/Carnegie brand; ongoing support from Mike, Platinum members and other advisors; and, ongoing revenue stream for Mike and his wife.

According to Matt, “Generational transition requires lots of sustained, open communications. The COVID-19 impact has driven home the need for flexibility again in having pivot discussions with my dad. We are developing a very different business model. Early results: our franchise has benefitted from virtual selling, training and communications.”

At the end of every Owner Transition Forum, participants offer up their key take-aways, which included: family communications must come first, open communications with management about change is essential, and the health of the family over the long-term is key.

As Matt described it: “Relationship between family generations is the single highest priority.” Re-living the story and progress was a positive reaffirmation to Mike of his transition process and decisions.

Join our Owner Transition Forum to gain fresh perspectives from other family business owners’ experiences. These monthly roundtables offer insights and open dialog around real owner stories in a confidential setting.

Contact Steve Coleman at 612-270-4327 or