There’s a secret to long-lasting family businesses. We often believe their longevity is a result of resilient corporate governance mechanisms and professional handling of the company. But Torsten Pieper, a researcher and educator in the entrepreneurial family space, realized this isn’t true. The secret to building a multi-generational family business: family cohesion.
Entrepreneurs often assume that a family will always stand together. That family members will always support each other, regardless of the situation. As we all know, this isn’t the case. Family unity can be hard to come by, and conflict isn’t as rare as we would like. For this reason, Torsten argues, family cohesion is key to long-lived and successful entrepreneurial families. But what exactly is family cohesion?
Dive into Torsten’s research in “Family Cohesion: Stick Together to Stay Together.” Learn about successful multi-generational family businesses, the different forms cohesion can take, and how your family business can strengthen its cohesion.
Read about the secret to a long-lasting family business here.
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