What are some of the most common pitfalls family business owners face when planning for "The Four D’s," and how can they proactively address them?
In this episode of the Finish Big Podcast, Mark Dorman sits down with James Aussem, a distinguished attorney specialising in succession planning, mergers, and acquisitions. Together, they explore the challenges of planning for “The Four D’s”—Death, Disability, Departure, and Discord—and share actionable strategies for family businesses to navigate transitions successfully.
James discusses his journey from a tax attorney at Ernst & Ernst to a career dedicated to helping entrepreneurs and family business owners. He provides insights into why closely held family businesses require unique planning approaches, touching on key considerations like ownership requirements, business sustainability, and equity among family members.
Mark and James discuss:
- Death, Disability, Departure, and Discord – The essential planning considerations for business owners.
- The Three W’s for Family Businesses:
- What do current owners need?
- What can the business afford?
- What is fair for all stakeholders?
- Mistakes to Avoid in Succession Planning – How miscommunication and lack of planning can lead to failure.
- Baby Boomer Business Transitions – Advice for the wave of retiring entrepreneurs
Connect with Mark Dorman:
- Succession Plus US
- LinkedIn: Mark Dorman
- LinkedIn: Succession Plus
- Facebook: Succession Plus
- (330)-416-9271
- mdorman@succession.plus
Connect with James Aussem:
- LinkedIn: James Aussem
About Our Guest:
James Aussem is a seasoned attorney and shareholder at Cavitch, Farmelo, and Durkin Co., L.P., specialising in succession planning, mergers and acquisitions, and estate management. With over 40 years of experience, he’s a trusted advisor to family businesses, simplifying complex legal issues to deliver practical solutions.
A Hall of Fame inductee by the National Association of Estate Planners & Councils, Jim is also recognised annually as one of The Best Lawyers in America. Known for his entrepreneurial mindset, Jim is dedicated to helping business owners plan for success and longevity.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.