Software for Hardware®, LLC, the leading provider of software to commercial door distributors, announces the publication of a research-based whitepaper, 5 Keys to Succession Success. The whitepaper helps guide family-owned businesses to continued success in their second generation and beyond. Lisa Oxman, President, Software for Hardware, noted, “Industry data shows that 70% of family-owned businesses fail in the second generation. Fortunately, we don’t see that statistic within our customer base which caused us to wonder. Hence, we conducted research to determine the key success factors that will help family-owned door distributors successfully pass their business to the next generation.”
Based on data from the U.S. government, university business schools, and private sector consulting firms, the whitepaper presents five keys to dramatically improve the odds of business success in the second generation. The keys include: a documented plan, growth initiatives, talent development, staff unity, and resource investment. 5 Keys to Succession Success discusses each of these factors with examples and supporting research.
Investment into resources resonated with Software for Hardware staff. Cheryl Orsi, Senior Customer Relations Manager, commented, “Many of our customers are either in the process of generation change or soon planning. Our clients realized that investment in technology resources was imperative to second generation success. Hence, the door distributors we serve have already taken at least one step toward succession success.”
The full whitepaper can be downloaded from the Software for Hardware website at:
Software for Hardware Whitepapers
Based in Atlanta, GA since 1996, Software for Hardware provides software to commercial door, frame and hardware distributors across the U.S. and Canada. Nearly 1,000 door industry professionals rely on Software for Hardware to improve their business efficiency, client responsiveness, and bottom line profitability. As a result, Software for Hardware has become the fastest growing software company in the industry and the software of choice for door distributors.