Keep Family Goals in Mind During Difficult Times
As a business owner, you know you’ll not only enjoy good times, but you’ll also have to face difficult ones. Whether it is an unexpected catastrophe or unsustainable circumstances, the stress of making hard decisions can be intense. This can be even more burdensome in a family business, where personal relationships may complicate the dynamics of an already strained situation.
The best way to weather difficult times without causing irreparable harm to the family unit is to be proactive in planning for potential challenges. Here are some tips from an expert to consider when engaging in succession or transition planning in a family business to ensure that everyone is on the same page in the event of unforeseen hardships.
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