49. How to build a business that spans generations, with Dr. Joseph Legg II, DMD

In a profession as deeply personal as small business ownership, it's no wonder that so many small businesses are passed from parent to child. However, we all know family dynamics can be complex. If you haven't clearly defined and agreed upon your roles, hierarchy, and succession plan, a business that spans generations may quickly reach its expiration date. In this episode, we're hearing from the son of a father-son duo of endodontists about what he’s learned from being in business with his father and his tips for successfully establishing a multi-generational business. Our guest, Dr. Joseph Legg II, bought MicroSurgical Endodontics of NEPA from his father, Dr. Joseph Legg, who has practiced endodontics for over three decades in Northeastern Pennsylvania. And together, we'll discuss: What inspires a son to purchase his father's business What it means to build a legacy in small town USA How to ensure a smooth transition of ownership Why it's important to seek external advice from industry experts The benefits and challenges of operating a multi-generational business Are you ready to take control of your future and start building your legacy? Visit getprovide.com. Provide is a division of Fifth Third Bank, National Association. All opinions expressed by the participant are solely their current opinions and do not reflect the opinions of Provide, its affiliates, or Fifth Third Bank. The participant’s opinions are based on information they consider reliable, but neither Provide, its affiliates nor Fifth Third Bank warrant its completeness or accuracy and should not be relied upon as such. This content is for informational purposes and does not constitute the rendering of legal, accounting, tax, or investment advice, or other professional services by Provide or any of its affiliates. Please consult with appropriate professionals related to your individual circumstances. All lending is subject to review and approval.