One issue that is often overlooked in family run enterprises is the risk that an interpersonal relationship will be damaged, taking the business down with it. It’s called relationship risk. When people don’t take care of their relationship, whatever plans they put in place are not going to work.
Read the full article in Succession Planning.
Notice to Readers
The original article referenced in earlier publications — “Leave emotions out of family business negotiations,” previously featured in Succession Planning — is no longer available on the Succession Planning website.
If you have questions or wish to explore these concepts in the context of your own family enterprise, we would be pleased to speak with you.
