Long Live the Family Business!: The Power of Family Meetings and Other Practical Transition Strategies to Help Your Business Thrive

One unique aspect of the family business is its ability to transcend generations. But longevity requires successful transitions. And successful transitions are fraught with challenges. In this practical book on the family business, Les Banwart identifies the key transition moments for owners and provides helpful advice. He addresses important issues, such as dealing with the entitlement trap of children who want to join the business. Les also provides help on setting up a family office, setting up a buy-sell agreement, and organizing a family council. This book is the business mentor you always wish you had. Les guides family business leaders in gentle yet frank ways. He pulls no punches in his chapter called "Fair but Not Equal." This may be one of the most contentious aspects of transitioning a family business to the next generation. Les gives business owners what they need to hear to help their business thrive for years to come.