Harry Gives Speech to MSPC

Harry McCabe, member, MSPC, gave a speech on the 7 Steps of Succession, on September 2 at the MSPC monthly networking event. Over 100 people attended the event, held at Marcello’s Restaurant, 645 W. North Ave. in Chicago.

Attendees received free hour and d’oeuvres and Harry passed out copies of his audio CD, The McCabe Arch, which uses an arch as a visual in talking about how to pass on a family business.

Harry’s book, Pass It On: The Entrepreneur’s Succession Playbook discusses the seven steps in more detail. These seven steps are what entrepreneurs and their chosen successors must do in order to successfully pass the business on to the next generation.

In step one the entrepreneur identifies the business as profitable and the interested family members commit to the business.

Additionally, the book gives advice on such issues as family conflicts and how to protect the business in case the chosen successor goes through a divorce.

Consultants established the MSPC in 1981 as a resource to consultants and their clients.