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Family-Owned Businesses

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Why do you think a mature family-owned business, one often facing the prospect of succession, is so vulnerable to decline and failure?

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Family-Owned Business

Why do you think a mature family-owned business, one often facing the prospect of succession, so vulnerable to decline and failure?

First, the nature of this question appears somewhat flawed in assuming that all family-owned businesses are susceptible to decline and failure; certainly some are, but others are not. Nonetheless, in my humble opinion, some familial operations are naturally prone to downfall simply because the business is often a passion of the founder, not the caretakers. We all come into the world as co-creators with unique fingerprints for ...

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