Owners of family businesses confront many of the same challenges faced by other business principals (see Owners & Partners). But being family and partners is double jeopardy for:
The ties that bind can sometimes get too tight! Or so it can feel to sons and daughters coming into their own in the family business. They question whether there is light at the end of the tunnel.
The last thing parents want is for their children to fail. However, they get nervous letting go of the reins. Even as they ride off into the sunset, they hold on with one hand.
- Siblings and cousins
Second and third generation owners must develop ways to accommodate personalities and styles that may be vastly different. Not surprisingly, they question how they will find room for everyone. BMC helps families in business with the stress and strain of communication, succession, competition, compensation, and with role and personality conflicts. It uses mediation to help family members come to consensus on a host of sensitive issues and strictly business issues.
For more information on BMC services for families with businesses, please select from the following links:
- Conflict Resolution: Mediation
- Conflict Prevention: Partnership Charters
- Succession Planning
- Collaborative Estate Planning
- Other Services
Contact BMC today to learn more about how we can help.