Families often approach sibling partnerships with trepidation. (We’ve all read the succession horror stories about sibling in-fighting.) They ask questions like: “How will we structure leadership?” “Are we going to split ownership equally?” “Who will make what decisions?”
With an open and focused conversation before transition, sibling partnerships can be rewarding for the family and business.
The main concern is structuring the family business’s leadership. There are two leadership models to consider: hierarchical and co-leading. Both models have benefits and weaknesses.
Determine which model will suit your sibling partnership best by reading “Succession Planning in Family Businesses: The Power of Sibling Partnerships.” Be sure to read the entire article. It breaks down the dilemma into equal and proportionate ownership.
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