EP 210 Family Business 4 Key Questions – Clarify these to Resolve some Conflict

EP 210  Family Business  4 Key Questions  – Clarify these to Resolve some Conflict

In more than 20 years of working with Family Business the most intense emotions arise around 4 basic topics.

There are nuances, yes, but as I look back they all fit in these categories. Sometimes this challenges land in more than one spot

2 Key Goals – Always

• Profitable Business
• Healthy Family

A real life example:  From the family of 6 Next Gen who unexpectedly inherited the business – 2 working in 4 not – building resentment – all had = decision making

2 working in – building resentment – 4 not

– benefitting financially w/o work – decisions driven by the size of their checks.

Who does the work of the business – 2

Who makes decisions – 6

Who owns – 6

Who benefits – 6

Harder to Achieve if Conversations Happen During…..

• Crisis
• Conflict

4 Key Questions to Answer for  ~ Now & Later ~

• Who Does the Work of the Business?
• Who Makes Decisions for the Business?
• Who Owns the Business?
• Who Benefits Financially?

Friction can happen when there is confusion around the answers to these questions

When the answers are not consistent –

When the answers pit one family member against the other from competing objectives – like the example I shared

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