How to Prepare Your Family and Business for the Greatest Wealth Transfer in History

Non-Fiction - Business/Finance
152 Pages
Reviewed on 04/03/2017
Buy on Amazon

Author Biography

David Werdiger is a #1 International Bestselling author, and the Founder and Chairman of Billing Bureau, one of the leading Australian Telecommunications Recurring Billing Software companies. He has been featured on ABC, NBC, CBS, FOX, The Wall St. Journal, USA Today and most recently he presented an ELI Talk titled “How to ‘Have’ Jewish Grandchildren.” As an in-demand speaker, David travels the world sharing his ideas about business strategies, philosophies on life, Jewish culture, and philanthropy.

David has completed a Masters of Entrepreneurship and used his knowledge to expand several successful businesses in the Information Technology and Telecommunications industries. He currently mentors and advises family businesses, CEOs, and top-level entrepreneurs on how to successfully systemize their businesses so that they can increase revenue, scale, and even exit their business. David lives in Melbourne, Australia with his wife and five children.

    Book Review

Reviewed by Kayti Nika Raet for Readers' Favorite

Transition: How to Prepare Your Family and Business for the Greatest Wealth Transfer in History by David  Werdiger tackles the little discussed topic of generational family businesses and how to help them survive past the third generation, which an astonishing 90% fail to do. Shedding light on idiosyncrasies that aren't experienced in the more traditional business world, Werdiger uses his own family as an example - an immigrant family who survived the Holocaust and moved to Australia to create a textile industry unlike any other, one that is still thriving well into the 21st century. Using his own family business as a backdrop and with a Masters of Entrepreneurship, Werdiger helps redefine how people look at the family business model, giving ways to resolve potential conflicts, establish trust, and most importantly, knowing when to be hands off.

As soon as I found out what Transition by David Werdiger was about, I was interested. Being part of a burgeoning family business myself, I'm always on the lookout for new information and pitfalls to avoid. Werdiger delivers his message in easy to digest chapters and refers to an online workbook where readers can easily put his tips into action. It's not a dry read at all and almost feels like a one on one session with a mentor who has been in the trenches and has come out on the other side. I thoroughly enjoyed the information presented in Transition by David Werdiger, and look forward to referring to it time and time again. A great read for any entrepreneur looking to take their business to the next level of sustainability.