You probably understand the importance of identifying, training and preparing the next generation to run the business. But what if a successor isn’t an option? What if it makes more sense to sell the business?
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Working in a family business, whether you are 18 or 80, presents many unique challenges that often signal a transition. Typically, we tend to think only of the most major transitions in our life –…
Why would a man, who founded and built one of the largest most successful companies in the world, decide to step away? On the outside it seems to make no sense and indeed it made news with many people asking the same question. But this is a question that all business founders must ask themselves, when do I step down and who do I turn the company over to?
2020 found families and businesses under pressure, stress and in the middle of the COVID crisis. For many family businesses this called attention to the structural damage or holes that were hidden inside the organization, leadership or family.