The Nature and Challenges of Family Businesses
“I’ve been fired twice by my father” The first statement a client shared with me
The statement “I’ve been fired twice” may support the impression that family businesses are difficult. More so, it substantiates that “the issues impacting a family business are more family related than business related”.
What will your family business be like when your children’s children are running it?
A thoughtful and strategic succession planning process is crucial for ensuring both a smooth transition of leadership and the continuity of the business across generations. The first axiom is to start early, earlier than you think necessary.