Although they have great strengths, family-owned companies also come with unique vulnerabilities and issues that can derail growth, family relationships and success.
Family member conflicts can be far-reaching and detrimental to the point of even destroying the business. Conflicts between family and business must be resolved and equilibrium found for business success and for the family cohesiveness and togetherness.
Wealth, Ownership and Family Relationship intersect to create situations that do not exist in corporations with unrelated owners.
The people you love are in the business and they don’t get along, maybe shouldn’t be there at all but you can’t fire family can you?
Succession, governance, performance, compensation, relationships and communication are areas where we help family owned businesses.
It’s all complicated by a sense of obligation, absence or disinterest. When these arise, finding a path forward can appear insoluble.
Our experience working with over 2,000 family businesses over the past 30+ years means that we can bringing balance and harmony to your family’s businesses.