The family that is open to new ideas and approaches is one that can solve virtually any problem.
I worked with a family where there were three married daughters in the second generation and nine young cousins in the third generation. I encouraged the cousins to form a “cousin’s council” and to initiate a “learn and grow” process. Under this process, the family had meetings and brought in marine biologists, anthropologists, archaeologists and others, just so they could learn something different together.
When faced with a personal tragedy and the potential sale of the business, the cousins were able to band together and prevent old conflicts between two of the sisters from tearing the business apart.
The cousins were able to find a reasonable, rational solution because they had learned and grown together.
*This is the fifth post in a series on The Ten Keys to Success in Family Business.
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