Studies show that approximately two-thirds of family businesses fail in transition of management to children. One study of family businesses from 1924-1984 reveals that 80% of these businesses had died,…
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The goal is to develop communication skills that allow us to discover a mutually beneficial resolution. Communication skills among family members range from “begging for a fight: lose-lose” to “mutual satisfaction: win-win.” Those families that maintain life-long positive communication develop their skills by rigidly adhering to the following “Nine Habits.”
Death and taxes, as the old saying goes, are the only things in life you cannot avoid. For some family business owners, the burden of taxes is as close to…
During a family business board meeting one family member stands up and shouts, “You have pushed us around long enough. I’m tired of you trying to control everything. I’m sick…