A successful family business – for now and for future generations.
Everyone involved needs to know and respect each other's roles. This avoids unexpressed expectations leading to unnecessary misunderstandings, tensions and conflicts.
Sooner or later, every family-owned business needs to address issues on management, handing down the business to the next generation, and balancing family members and their roles within the business, while considering the interests of the company's stakeholders at large – to name but a few.
Professional and sound governance is the foundation from which to address each and every issue. This could be experienced as relinquishing influence. However, by carefully setting up a governance structure with the right knowledge, experience, wisdom and dedicated people, you bring calm to the table with a transgenerational view towards the future, while respecting the present day.