Ownership strategies are critical to the health and success of family businesses. These strategies address long-term goals, expectations for the business, and the purpose of ownership. They align owners on the business’s vision and future. But there’s a downside to most American family business ownership strategies: they’re too skeletal.
As a family business grows, so too does its ranks. Who should and shouldn’t have the opportunity to become an owner becomes a key talking point. This conversation is just one of 12 key areas that families often overlook when developing an owner’s strategy.
This article walks through those 12 critical areas that families should discuss as they plan for the future.
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