Never Too Old to Get Rich by Kerry E. Hannon

Author:Kerry E. Hannon
Language: eng
Format: epub
ISBN: 9781119547914
Publisher: Wiley
Published: 2019-05-23T15:00:00+00:00

What makes some family businesses succeed while others fail?

Managing the family part of the family business is the key. People who are great at this work diligently on keeping the family unified. They communicate a lot. They have experiences – family assemblies once a year, for example. They have fun, and they talk about what the purpose of their family is, why they stay united.

Others can fail, for example, if they don’t manage generational transition. It is a vulnerable time when the older generation doesn’t want to get off the playing field. They will delay their own retirement and discussions about bringing in the next generation too long, and if you wait too long you can’t do it.

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