Transcript Succession Planning Superheroes

Presented By: Dave Specht, CFP®
University of Nebraska-Lincoln
www.davespecht.com
www.davespecht.com
Who I am
 Farm Kid from San Diego, CA
 Attended Brigham Young University and did a Masters
Degree in Finance and Tax Planning
 Lecturer in Family Business Management at UNL
 Consultant to multi-generational family companies
www.davespecht.com
Looking through the lens of
transition
 1st Transition- High School basketball to College
 2nd Transition- Missionary for Mormon Church in
Uruguay to normal college kid
 3rd Transition- Walk-on college basketball player to
husband, father and employee
www.davespecht.com
Business Owners as Superheroes
 Treatment by the public and peers
 Larger than life
 Treated like objects, not people with feelings
 Can go from hero to villain quickly
www.davespecht.com
Introducing our Superheroes
 Captain Immortal
www.davespecht.com
Introducing our Superheroes
 Dr. Shhh
www.davespecht.com
Introducing our Superheroes
 Oblivious Man
www.davespecht.com
Introducing our Superheroes
 Ms. Reality
www.davespecht.com
Superhero Challenges
 Unique abilities
sometimes leads to
unique challenges
 Understanding your
tendencies
 Finding a Support
system
www.davespecht.com
SHAZAM!- Captain Immortal
 Refuses to face mortality
 Identity, power and
purpose are tied to the
business they run
 Struggle to make
commitments to any
meaningful planning
www.davespecht.com
KA-POW!- Dr. Shhh
 Slow to Trust
 Tough to communicate
with
 Values privacy over
almost anything
www.davespecht.com
SPLAT!- Oblivious Man
 Focuses on the now
 Doesn’t recognize the
missed opportunities
(networking, planning,
etc.)
 Has good intentions, just
lacks big picture vision
for his life
www.davespecht.com
ZOWIE!- Ms. Reality
 Perceived as uptight
 Misunderstood by other
business owners
 Has a clear
understanding of the
importance of building a
professional team
www.davespecht.com
Saving our Superheroes
 How can we save them
from themselves?
 What tools are available?
 Is there any hope?
www.davespecht.com
Saving Captain Immortal
www.davespecht.com
Rescuing Dr. Shhh
www.davespecht.com
Liberating Oblivious Man
www.davespecht.com
Joining Ms. Reality
www.davespecht.com
Conclusion
www.davespecht.com