Yesterday, James Olan Hutcheson, founder and President of ReGENERATION Partners was invited to speak to a group of grad students at SMU’s Cox School of Business. James spoke to the students about general hot-button topics that can arise within a family business and the ways that a family business can look at goals constructively.
Hutcheson also listed the top 4 reasons that family businesses fail.
1. Poor concept
2. Inexperienced management
3. Lack of Planning
4. Uncapitalized opportunities
“The Family Effect” – Working with family members
The speaking event generated many fantastic questions from students about best standard practices within family businesses. Some of these questions will be highlighted soon on our blog!