4 Keys to Building a Family Business That Lasts

Running a family business can go one of two ways. It's either a disaster, you damage the relationships in your family, everybody ends up mad at each other, and you destroy the business in the process, or it outlives you and becomes a blessing to your family for generations. And the difference isn't luck. It comes down to a handful of key decisions.

I've had to make those decisions myself, running a business with my kids, and for almost 30 years, we've helped thousands of family businesses do the same. So today, entree leadership's head coach John Felkins is sharing the family business playbook we've developed along the way. Because the truth is if your family's dysfunctional, your business will be too. But when you get this right, it's one of the most rewarding things you will experience as a parent and a business owner. Let's get to it.

Thanks, Dave. Today we're going to walk through the four keys to building a healthy family business. And those are the roles, the communication, the transition, and what we call higher calling. But before we get started, I want to address something that actually really ticks me off because for years I've heard people repeat the idea that all family businesses are doomed to fail by the third generation. Like it's some kind of law of nature.

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