In business where owners are related or are personal friends, or have helped grow or manage it, the challenge is to assure that those relationships continue over time to be assets to the business; too often, that’s not the case.
In the context of family-owned and closely-held, failure results from unexpressed expectations and personal comparisons among the parties that negatively impact the long-term success of the business.
If the close relationships are not acknowledged and managed with respect and careful, persistent communications, that failure creates a huge negative impact on the value of the business, often causing failure of the business and a resulting windfall to the lawyers.
Here are some ways I can help you dispute-proof your business:
THAT’S IT! I’ve got a lot more, but right now, there’s not enough room and you don’t have enough time. If you want to hear my horror stories about the costly failures to follow these recommendations and some success stories is you follow my advice, call me or check my blog from time to time, and I’ll tell you stories.