Ten Signs You Might Need a Family Business Advisor
“Everything in our business is perfect. After all, we are family!”
We like to think that we can do just fine managing the space ourselves where business and family relationships overlap. But even the best founder or family leader can be left with uncertainty from all the unique and challenging things that happen from working together in a family business.
Here are 10 of the most common questions and challenges that we have worked with our clients to help resolve.
““I am so happy that Greg Lewis and I crossed paths. Although my business held a lot of promise, it was going nowhere, and I knew it. I was stuck. In our first meeting Greg identified exactly why I was stuck and began to direct me to concepts, people and books that would give me the information and assistance I needed. I now have the talented people, strategy and business income to bring it to the next level. I’m not stuck anymore. Now my goals are real and achievable. It’s not just a vision anymore. It’s actually happening.
If you have a business and feel stuck, I’d suggest you call Greg Lewis. He’s a great mentor and friend. When I’m ready to move from a $10 million to a $100 million business you can be sure Greg will be the first person I call.””
Do these stories sound Familiar?
"My Dad has told me he plans on transitioning the business to me when he retires. I have two small children. I love my Dad, but I really want to be a Mom to my children. I am the primary bread winner for our family."
"I’ve worked with my Dad for 15 years in a training/speaking role. Dad was the visionary and leader of our company. He died in a car wreck recently and left me to run the business. I have no idea on what to do. I miss my Dad."
"When I decide to retire I am going to sell the business to my son-in-law who is married to my daughter and is father to my two small grandchildren. When queried about the fact that over 50% of marriages end in a divorce, he quickly said that this would not happen to his daughter."
"My Dad and Uncle are 2nd generation co-owners of our family business. I have two siblings not working in the business and my uncle has one daughter not in the business. They say that they want to be fair to all the children by giving them their fair (equal) share of the business. How can this be fair when I am working full-time in the business and helping build value through future growth?"
"I’ve just joined the family business. Do I call my Dad Boss, Bill, or Dad when I am talking to him or about him in our business and in the marketplace?"
How can We Serve you Today?
If One or More of these Signs are Preventing you from having Healthy Family Relationships, Contact us at info@tncfb.com or call 615-513-9028 to schedule a Free, No-Obligation, Meeting to Determine how we can best serve your current needs.
If the founder or other key leadership position decides to retire, unexpectedly dies or departs the business, do you have a plan in place for a smooth transition in ownership, leadership and management responsibilities?