Tag: family owned business best practices

Written by JamesLynchCoach

Don’t Pay Family Members!

In the worst case you might have family members who have a sense of entitlement and are expecting a sinecure, pay for no work, because they’re related. Even in the best case, when you have too many ‘partners’, sons or daughters, who are stepping up to take over the business, they will all try to […]

Written by JamesLynchCoach

Succession Planning Starts at 40

Ever heard the expression ‘life begins at 40’? Well if you’re a family business, so does succession planning. Too many businesses just move on to the next thing on the list and don’t take the time to step back, look to the future and put in some  plans and strategies for the eventual sale, gift […]