Does Your Family Have An Emotional Bond To Your Business
Succession planning for family-owned businesses is a complex task that involves many considerations.
At its core, it is important to realize that there is an emotional bond between the person taking over the business and those in the family who have owned and operated it before them.
This connection can be a source of motivation and support when making decisions regarding the direction of the business, as well as a reminder of why it has been successful in the first place.
Moreover, involving family members in the process can help create an even stronger bond among them, ensuring that all involved are on board with any changes being made.
About the author : Darlene Gagnon
Darlene Gagnon is an award-winning entrepreneur recognized by the National Association of Women Business Owners and is an Enterprising Women Inspirational Entrepreneur. She served on the board of directors for Entrepreneurs’ Organization and has mentored entrepreneurs and start-ups for over a decade. Her two companies, WeKinnect Global Branding Agency, and Kinetic Promotional Product Services have been recognized as “Best Places to Work” and “Largest Agency” by American City Business Journal. Both companies serve the US, Canadian, European, and Australian markets. Most recently induction to the $1 million dollar club with industry leader ipromotu.