Are you a member of a family in business together, or do you know someone in a family business. Then you know the challenges associated with running a successful family business and maintaining good family relationships.
Family business are wonderful. They provide a great environment for family and extended family to work together.
Except when the relationships don't work!
Family businesses encompass over 65% of all business environments in the U.S. alone. Only 43% make it to the 2nd generation and only 3% pass to the 4th generation. The challenge isn't the wills, or estate plan. The challenge is leadership, vision and most importantly the interpersonal skills of both generations to allow the transition.
Janna's experience in creating a path for the next generation family business is second to none. She works with family members of multiple generations to ensure the day to day business operations and family dynamics are positioned for growth. Janna will work with both family and non family members to understand and manage the business and family dynamics within the business as well as the affect it has on staff and profitability.
Is your family business is looking at the transition from one generation to another? You may have the estate planned, the financial aspects under control and the business is ready to transition. Yet, is the current generation ready and able to turn it over to the next generation? Is the next generation really ready to take the control? Is there disagreement on those answers and how to actually make the operational transition? If there are any questions, uncertainties or opinion differences, then give Janna a call. She will help you make that tranistion.
Your business and your family will thank you.