When one analyzes problems found in family business, they are very often related to a less-than-competent family member who is working in the business, but whose experience base is inadequate. Ask yourself this question: “Would you consider hiring a less-than-competent non-family member to fill a key slot in your family business?” Of course the answer …
The Premise of a Family vs Business
So, Who’s Gonna Run Your Family Business? The answer to this question for many family business owners is, “I am!” They think they will live forever; and that the business will prosper and continue to put unlimited cash into the pockets of family members. Oh, that such a thing would happen, but the reality is, …
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