Family businesses face common challenges, such as conflicts, communication issues, boundary maintenance, and succession planning. In this episode of the Prime Resources Podcast, join BDR Head Coach Jay Crowe as he explains how your family business can prioritize communication, have transparent structures, well-defined policies and procedures, professional management, and a plan for succession and continuity.
If family members are a part of your company, you don’t want to miss this episode on how you can go from surviving to thriving in family-business overlaps.
Time Stamps- (00:58) - About Jay and his industry background
- (02:08) - What are common challenges you see with clients working in family businesses?
- (04:20) - What is the importance of communication in a family business?
- (10:05) - How do you handle the conflicts that might arise?
- (14:16) - Are there family businesses that have structures that are more successful than others?
- (15:56) - What does the family need to share / or not share with the rest of the company?
- (22:17) - What would you recommend for training your family members to take over?
- (24:39) - Final thoughts
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