Shared power is not the same as equal power. The idea of shared power means respecting one another’s talents and abilities across generations, between spouses and among siblings. If one family member has a strong grasp of financial matters and another has the best operating insight, then each should defer to the other in their area of expertise. This is the best practice for the success of the business and also creates an environment where family members/employees are encouraged to offer the best of themselves.
*This is the third post in a series on The Ten Keys to Success in Family Business.
Does Your Family Business Need Help?
Family Business Matters has extensive experience assisting family businesses. With many decades of experience, we understand the wide variety of challenges that families face as they work together to build, grow and sustain a thriving family business generation after generation. Through conferences, continuing education programs, family business retreats, speaking engagements and private family business consulting services, Family Business Matters has assisted more than 450 family-owned businesses around the world chart their way through family business issues of all shapes and sizes.
Contact Us
For more information on how Family Business Matters can help your family business survive and thrive, please contact us today at (970) 948-5077.
