Today we talk to Barry Bunther about succession planning for a family business and how to exit gracefully with the right plans. She also teaches her about the key issues unique to family businesses and the skills needed to run a successful family business.
“In a family run business, having an exit plan is essential. You have to make sure you are ready for any conflict. takes about five years.”
Listen to the podcast below.
This week’s SmallBizChat Podcast:
- Help families thrive in business and live in harmony.
- Separate business and family to ensure the success of both.
- A success plan, not a succession plan.
- Problems faced by family businesses.
- How to withdraw from the family business.
- Have a plan for disagreements and have clear communication channels.
- 5 skills you need to run a successful family business.
Resources mentioned:
Connect with Barry Bunther:
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