Family Business Success Factors

Seventy-percent of all family business transitions fail. What to successful families do to beat these odds?We carried out a research project with over 100 successful family businesses, and through our study identified twelve critical success factors for families-in-business. The twelve factors fall into four major categories:- Transforming Communication: Family Culture, Career Satisfaction, and Family Relationships- Enhancing Leadership: Successor Development, Successor Competency, and Compensation Standards- Creating Strategies: Business Structure, Non-Family Management and Business Strategy- Building Responsible Ownership: Management Succession, Financial Planning and Tax PlanningThis collection of short articles is based on the stories of the families featured in our full-length book - Love, Power and Money: Family Business Between Generations.
We have organized the articles around the four major categories outlined above. You may also evaluate how well your own family business is doing against these twelve success factors by completing our comprehensive Family Business Assessment ToolT.