The idea of professionalizing a family business can elicit mixed emotions. Some in the family business may perceive it as a critique of their professionalism. Or they might feel inadequate compared to other family-run enterprises. However, family business’ professionalization extends beyond mere terminology. It involves the formalization of processes and structures aimed at enhancing efficiency and ensuring long-term success.
In his article “Professionalizing the Family Business,” Russ Haworth delves into the multifaceted aspects of family business professionalization. He addresses the challenges that come with change and highlights the numerous benefits awaiting those who choose to professionalize their family businesses.
Read about how to professionalize your family business here.
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