A family business is about people and getting the people to work towards a shared vision.
Economies are built by family businesses, and that’s why it’s essential to make sure that they last through multiple generations. Family business organisations are complex, and they require a particular and specialised strategy, planning, and governance to function successfully.
Without the knowledge to build a family business, the founder generation inadvertently sets the family business up for failure. Problems in a family business are seldom financial or legal but rather behavioural. It is about getting along while pursuing an ideal shared future.