When I was contemplating the purchase of another family owned business, I immediately enlisted Paul’s services. I knew that Paul’s sensitivity and experience, in understanding the dynamics of families in business would be invaluable in helping to defray the angst and emotion, which was sure to play a role in any potential transaction. Paul proved to be the perfect mediator, and I wouldn’t hesitate to call upon him again, whether it be for purchases of other owned family businesses, or stock purchases within the family.
CEO, Legal Seafoods
We were a successful family business that was struggling with balancing family and business. David and Paul helped us become a business family. Once we were able to do that, becoming a family was a natural step. Thanks to the help at Transition Consulting, we’re more focused as a business and more comfortable as a family.
CEO, SALMON Health & Retirement
David and Paul-
Thank you both again for doing such great work with my family. They really enjoy you as individuals and your personalities. Your work is very effective and we are grateful to have have met and engaged you both.
CSC Leasing Company
Transition Consulting Group has worked with our family for over fifteen years. They have earned the trust of my parents and all of my siblings. Our family unity today is due in a large part to the efforts of TCG. They have helped us separate family issues from business issues. I don’t believe we would be enjoying Thanksgiving dinner together without their efforts and I don’t believe we would be running a successful restaurant company today without their efforts.
CEO & Family Member, Briar Group
Once we realized that all the shareholders were not quite ‘on the same page,’ we felt we needed help in conducting family meetings to reach consensus. Transition Consulting Group was able to assist us with some of the more sensitive issues on a very discrete basis. With their help, we established a three generation Family Council which allowed us to openly discuss the family’s history, culture, and the values of a legacy brand as well as the next generation’s commitment to our family business. They helped us to move forward in a positive way with a clearer sense of direction.
President and CEO, Zildjian Company
“What is so unique and very much needed in business consulting, for family business owners, is a consultant who understands that there is a family component.
David has a keen skill to help families in business together understand best practices in business, and at the same time, pay attention to the nuances and emotional needs of family members trying to heal and stay together. We have successfully transitioned a 50-year-old business into its second generation, and I can comfortably and confidently say, we could not have navigated the hiccups, family politics, and challenges without David’s guidance.
He takes a personal, personable, and honest approach. He will connect with you, your family members, and key employees and be empathetic as he says things that may be difficult to hear. Additionally, in a world where everyone has decided to be a consultant of “something,” David is a true specialist. This is not a hobby, he is a second generation family business consultant and a true professional, which in this day in age, is such a joy to work with.”
The Speech Improvement Company
The father and son Family Consulting Team of Paul and David Karofsky are the best! They, definitely, did an effective job in communicating with each member of The Virginia Family and Private Business Forum. They connected!
During a full day workshop, Paul & David were able to guide the different members of multi-generational family businesses in developing a plan of action. Separate work sessions were held. Paul facilitated the older generation. David facilitated the next generation. Personal and business goals were developed.
The groups were then brought together to share and discuss the results of the separate sessions. In many instances, these discussions made it possible for some very sensitive issues to be raised and discussed for the first time. All sides of the issues felt listened to and heard. Paul and David were well prepared and it was a pleasure to see how much they really cared about helping our members to be successful.
Because of the very experienced leadership of both Paul and David, the final discussions were a “Home Run”. And, our family businesses now have a plan of action to pursue in developing their succession plan.
Charles J. Gallagher
PhD, Director Family & Private Business Forum VCU Business School
It is essential for any family in business together to learn how to distinguish between what is family and what is business. Transition Consulting Group helped us do just that; it has made our family time better and our business discussions more productive.
CEO Hagerty Insurance
… Three years ago we were faced with my father’s retirement. We knew what we wanted as a family and as a business organization, but we were not getting there. My father had attended a family business lecture given by Mr. Paul Karofsky. From the first moment we met we knew we had made the right decision. His knowledge about business, family relationships, leadership, conflict resolution, and his wisdom and charisma guided us through our transition. Paul will always be a key part of our history as a family and as a business.
When family members go into business together, they take lots of risks-both financially and personally. Over 15 years ago our family business was in crisis and was introduced to Transition Consulting Group. Back then I never thought we would survive, let alone thrive. Here we are many years and crises later; we are still going strong thanks to the continuing guidance of TCG. TCG has become a most trusted advisor, having shared the gift and passion for practical approaches for resolving crises. The life experience of TCG’s principals provides for a constructive process to speedy and healthy resolutions.
Founder, PK Walsh Co.
It has been a pleasure working with you on our family business transition plan. At first, I tried working with one of our business attorneys and our accountant. After several months, it became apparent that we needed a specialist. Fortunately, we were referred to you and our relationship worked out well. Since we have two 30-year olds to deal with, they have related to David while Paul and I are contemporaries. You have been responsive to and understanding of our goals. Your experience and personalities have worked well to facilitate dialogue relating to sensitive issues. We have recommended you to friends, and will gladly continue to do so.
CEO, Berman Adjusters
Thanks, David! Much appreciated on all fronts. I always enjoy taking a leap of faith with a service professional and being very pleasantly surprised in both the “art” of their service and in discovering how deep my (our) need for that service really is. Much appreciated – thank you, thank you, thank you.
Founder & Managing Director, OneVision Resources
This was an extremely positive experience! David is ‘The Great Facilitator of Communication’ and truly understands all the challenging facets and personal dynamics of a family business. We highly recommend Transition Consulting Group to any business struggling with this daunting process of the transitioning of leadership to the next generation.
The Sullivan Family
Founders, Arrow Fence
I have known Paul since our freshman year in college, and have followed his career as the head of a highly successful family business and later as a consultant to family businesses. Paul is one of the most skillful, insightful, and empathetic people I know. He brings these strengths and vast knowledge to his clients. His keen grasp of the issues and understanding of how to solve them has made him an invaluable asset to every family business with which he has worked. I have also followed David’s career, and know him to be a chip off the old block who likewise comprehends the dynamics of a family business and has the creativity, compassion and insight to solve the complex issues confronting families
Jerald C. Cantor
Esq., Senior Partner, Phillips, Cantor, Shalek & Rubin, P.A.
For many years, I have been deeply impressed by Paul’s passionate commitment to innovation and excellence in family business management and his comprehensive understanding of the complex issues that surround it. My son, David, the first member of the fourth generation in our business, benefitted greatly from Paul’s expertise which he experienced first-hand in the Leadership Development Forum, which Paul facilitated.
I have known my esteemed colleague and friend, Paul Karofsky, as a consultant to family businesses for nearly 20 years. Paul’s significant experience in the field is highly respected amongst his peers. Well known for his professionalism and quality of work, he has a keen understanding and regard for the needs of the business and the family. Any family business would be very fortunate to have his expert counsel and facilitation.
I have known Paul for many years as both colleague and collaborator. As a former CEO of a family business, he brings a level of understanding to its challenges and pitfalls which few possess. His wit and wisdom, deeply rooted in his own experience, provide a backdrop to his work. He listens to his clients and guides them, with tact and grace, through the often-murky waters confronting families in business together. His clients value his guidance, presence, sense of humor and vision in their work together. In the world of family business consulting, Paul is highly regarded for his commitment and generosity to colleagues and friends. He is a resource, both nationally and internationally, to clients, colleagues and the entire family business consulting community.
Gerard J. Donnellan
Ph.D., Organizational Psychology, Family Business Consultant, Boston, MA
I have had the great privilege of working with Paul Karofsky consulting together to hundreds of family businesses. Paul is unusually gifted in his ability to understand both business and family issues. Respected and admired by many in the field, Paul is perceptive, insightful and creative in his work. His knowledge of family business is unparalleled, having lived it and helping many families as a consultant. It is truly impressive to experience how Paul brings together divergent family members and helps catalyze business success. Now Paul has the great fortune of having his talented son David join him. As a father-son team, they are unique in their ability to relate to many of the issues facing family and closely held businesses.
Paul’s pioneering work has helped to stimulate the rapid growth in the field of family businesses and his work internationally has motivated many foreign families to examine their own enterprises. He has brought many families together to revitalize their businesses and helped them to better learn how to help each other. With his own successful model for family business consulting, he now reaches into the next generation to continue this legacy with the inclusion of his son David. Together they offer wide-ranging guidance to families in divergent parts of the world; it is a stimulating model for families everywhere. Family business stakeholders are so varied that consultants need a comprehensive range of capabilities – derived from the right experience and skills for personal adaptation. Reputation in this field is built upon nothing less.
Harry Levinson (Deceased)
Ph.D., chairman emeritus and founder of The Levinson Institute and professor emeritus, Harvard Medical School
I met Paul Karofsky 14 years ago as I was considering career opportunities within my family’s business. The family wanted to make sure that as I was introduced into the company, we formulated an entry and exit plan and involved all of the members of our management staff. We interviewed several business consultants to assist us and felt extremely comfortable with Paul and Transition Consulting Group. Not only did Paul have firsthand experience with family business dynamics, he was very knowledgeable about modern management theory. He was able to skillfully integrate multiple stakeholders’ perspectives as we developed my integration plan. Paul followed up after our initial project, helping to implement and interpret a 360 degree review of my progress. He has been a trusted resource since we first met. I enthusiastically recommend his firm to anyone seeking assistance with complex family business issues
Cliffstar Corporation, Dunkirk, NY