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Succession Planning – Building Value   


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Feeling “trapped” in your family business?
September 3, 2008

Have you (or one of your family members) been thrust into a position in your family business because there was a dire need to plug a hole or fill a gap?

Hopefully the answer is no! Short term to fill a gap, fine; but do not get trapped. It is the equivalent of death by a thousand cuts. For those of you who have, unless this is your passion, do yourself and your family a favor and get the hell out. Do not settle or linger in a position that is a dead end or is a position that will not allow you to experience professional and personal fulfillment.

Over the years, I have encountered countless families who have inserted family members into positions with the best of intentions only to find that they are either placing a round peg into a square hole or are insensitive to the fact that the respective family member is not the ideal candidate for the job. In the short run, this may work if you are simply plugging a hole. But in the long run, this band-aid approach will likely fail and could cause irreparable damage to the family.


Posted by Dave Ciambella on September 3, 2008 | Comments (1)


October 6, 2008
In response to: Feeling “trapped” in your family business?
RJ McHatton commented:

One of the main reasons the family businesses aren’t continuing into the next generation is that breakdown in the vision of the founders. I do a lot of video biographies for family businesses and the most important questions deal with the important values and culture of the founding generation being communicated to the newer ones. QUestions like WHy they started the business, How they overcame adversity, What got them through the tough times, What advise do they have for the future generations, what values are important? I really think it is vital for the older generations to take the time to tell the newer generations about those important values.





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