Sasha Lund: Transforming Family Businesses with Expert Succession Planning

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Family business succession often seems straightforward on paper – transfer ownership, maintain profits and continue the legacy. Yet beneath these technical steps lies a complex web of human relationships that can make or break both the business and family bonds. While HBO’s “Succession” has popularized the drama of family wealth transfer, the reality demands far more nuance. It requires carefully balancing business needs with family dynamics, managing emotional stakes and ensuring the next generation is truly prepared to take the reins. This is where Sasha Lund, an experienced family business advisor, has made her mark.

The Reality Behind Succession Planning

Thanks to HBO’s hit series “Succession,” many people now have a dramatized view of family business dynamics. But Sasha sees a more complex picture in her daily work. While every family knows succession planning is inevitable, few tackle it effectively. The result? Strained relationships and business challenges that could have been avoided. “You will often have the patriarch who will say ‘No, I’m very traditional, I want the first child to take over.’ Maybe the first child doesn’t want to,” Sasha explains. “It becomes a very difficult hot mess – almost like a cocktail of problems – because as much as you are there to figure out the succession planning of your company, you also want to ensure that your family stays intact.”

Building Strong Foundations

Sasha’s approach starts with understanding each family’s unique dynamics. She conducts one-on-one interviews with key family members and business leaders to map out everyone’s vision for the future. This careful groundwork reveals both challenges and opportunities that might otherwise go unnoticed. “Each family is different,” she notes. “It’s almost like a psychologist – we might both have PTSD, but that psychologist would treat you in a different way than he would treat me.” This personalized approach helps her develop solutions that work for each family’s specific situation.

Preparing the Next Generation

A crucial part of succession planning involves preparing future leaders – whether they’ll run the business or serve as active shareholders. “Family members who will be somehow involved in the succession don’t necessarily work in your business,” Sasha points out. “They might choose to be an artist, but they’re still an active shareholder. How do I then as an active shareholder go into a shareholder meeting and ensure that I ask the CEO the right questions?” This preparation goes beyond business skills. It’s about building confidence and understanding family values. Sasha helps next-generation members develop the knowledge they need to feel empowered in their future roles.

The Communication Challenge

Poor communication often lies at the heart of succession problems. “Lack of communication is almost like a global pandemic,” Sasha observes. “We want to get our point across rather than stop for a second, listen to our counterpart, and actually hear what the person is saying.” To address this, Sasha recommends creating formal structures like family councils. These provide safe spaces for open dialogue and help separate family dynamics from business decisions. “Having advisors there helps you professionalize meetings,” she explains. “It takes away that emotional aspect of ‘Okay, I can scream at my dad even if we’re in the office because he’s still my dad.”

Breaking Gender Barriers

While discussing family business leadership, Sasha points out an important shift happening in the field. Though men still dominate top positions, she sees increasing recognition of women’s leadership capabilities. “More and more studies have shown that diversity helps when it comes to leadership,” she says. “Women lead differently, and that diversity will help you in conversations and conflicts.” Her new book, “The Rising Role of Women in Family Offices and Family Businesses,” explores this evolution. But she’s quick to note that the goal isn’t to create a division. “Most of us want equality but we go about it in the wrong way,” she explains. “Suddenly it’s not ‘a CEO’ but ‘a female CEO.’ By pointing it out, you actually alienate yourself.”

The book seeks to build better understanding between genders instead of making gaps wider. It has case studies and useful ideas for women and men who work in family businesses or family offices. Sasha says, “It’s good for women who are working in this area, either family members, or advisers, lawyers, and everyone who works within that set up”. But it is also important for men, because it will assist them in understanding how women think so they can have more productive meetings. Her way of doing things centers around building places where both men and women are free to share their unique thoughts to help family businesses grow.

To learn more about women’s evolving roles in family businesses, visit Sasha Lund’s LinkedIn profile or check out her website.

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