Even the best-laid plans bow to the whims of life. Your family business may think it’s prepared for an unexpected death, illness, or other disruption—but is it really?
Consider this: A founder received terrible news. He had an aggressive form of Parkinson’s. He and his wife planned to transition the family business to their five kids. But it all hinged on the founder leading for another decade, something that wouldn’t happen now.
This forced the founder and his wife to enter crisis management. Here’s what they did to manage the situation while keeping the business stable and the family united.
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