Daughter: Mom, you’re not hearing me! Mom: Laura, it’s just that you’ve been part of this business for so many years. You were always such a natural. Even when you were a baby, you were filled with personality. Our employees and suppliers all love you. And though your dad’s health has been improving, […]
“We’re both in our sixties. We’ve worked hard for forty years and we’re tired. We’re ready to retire but our adult kids still act like children! They’re unreliable on the job and unable to make important business decisions on their own. How can we even think about retiring?” While the details may vary, […]
When we ask family members in business together what they do, the response is frequently a rather glib, “Whatever needs to be done.” That’s what entrepreneurs do when they start a business. But as the business grows and matures, especially through multiple generations, clarity and agreement around who does what and who reports to whom […]
Have you had “The Difficult Conversation” with your family? The one about what will happen when you leave this life? Every few years, our family has what we call a “Dress Rehearsal.” Together with parents and adult children, we meet with our independent financial advisors, and sometimes with our attorney. The announcement is made that […]
