The Family Succession Mistake That Tears Businesses Apart
About this episode
This episode discusses the common mistake of assuming that equal distribution among children in family business succession is fair, and how it can lead to the breakdown of both businesses and families.
Splitting everything equally among your children sounds like the fair and reasonable thing to do. But in family business succession, "equal" and "fair" are not always the same thing. Assuming they are is one of the most common mistakes that breaks both businesses and families. In this episode of Legacy: The Business Succession Podcast, I tackle one of the most emotionally charged aspects of succession planning: family transfers. Specifically, how business owners can balance fairness and contr...
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