I have never been in business with family but I am sure that it can be challenging. Because family is about unconditional love and business is about profit. Dirty Little Secrets of Family Business explains just why these two do not always work out. Consequently it is hard to worry about profits while trying not to make someone mad or step on their toes. More than 66% of all family business don’t succeed. This book uncovers secrets of family business and then helps offer you some effective strategies. In addition to teaching you how to keep the communication open and dealing with problems as they arise.
These businesses normally begin with a single founder. Someone in the family has either saw an opportunity or they have simply taken action to help make the ends meet at home. Sometimes it was both. It can quickly turn into a husband and wife team, brothers and sisters, aunts and uncles. While the business grows as the family does. Did you know that most family businesses are owned and or run by women. Adding the additional burden and conflict of being mom, wife, emotional supporter and the CEO of the business.
A little about the author Henry Hutcheson. First of all he is a certified management consultant and founder in addition to being president of Family Business USA. Specializing in helping family businesses and privately held businesses. He helps them improve their business operations and prepare for transition. While securing their wealth and strengthening their family relationships. While his focus may be on succession, his work is about managing conflict and enhancing communication. Planning and preparing the business for a smooth transition for the next generation. He helps groom the next generation to become high-performance leaders. While working with the exiting generation to help them figure out their role as they gracefully leave the business.
I loved reading this book and I am sure you will. If you have any thoughts or dreams of creating your own family business. This is a must read for you. So many tips and ideas of how to succeed in your business and in your personal life.