Is there an Elephant in the Family Business?

Every family business struggles with challenges that no one wants to talk about.  Operating a business is hard enough, adding on the dynamics of working with relatives into the mix and it is easy to see how family businesses can struggle to effectively operate.

Personal feelings can cloud judgment, foster resentment, and negatively impact how the business grows.  If problems are left to fester, the business can become a battleground.  When family businesses avoid discussing these critical issues, they miss business opportunities, lose money and damage relationships. These “elephants in the room” keep both the family and the business from moving forward.

But it doesn’t have to be this way. There are ways to talk about these challenges that build the family and promote change.

Kyle Danner, a Family Business Advisor, and CEPA, understands family dynamics and the important role they play. He discusses how to approach the elephant in a new way. During the hour-long presentation, we begin with the two things everyone needs for difficult conversations. Then, we dig a little deeper to better define what you need from the elephant.

Since talking about the elephant results in some level of change, we consider the new behavior you want to see from yourself and others related to the elephant. Finally, we discuss tactics to help you talk about the elephant in a
productive way.

What you can expect from this webinar:

  • Where to start when thinking about the elephant in the family business
  • How the focus on needs breaks the impasse
  • The 2 things everyone needs when talking about the elephant
  • Why it’s critical to focus on behavior for lasting change
  • Five tactics to use when talking about the elephant.

The broadcast will be held on Wednesday, February 7 at 1PM ET. Register now.


About Exit Planning Institute:

EPI LogoThe Exit Planning Institute (EPI) is an education company that provides exit planning education to advisors and middle market business owners.  We view exit planning as a strategy, not an event.

EPI leads the professional services profession with the best industry content, ongoing support, and owner education platform, all of which align with our mission: Change the outcome.

Only 2 out of every 10 businesses that come to market actually sell.  We want to increase the number of saleable businesses.

Only 30% of family businesses successfully transition to the second generation, only 12% transfer to the third, and the success rates diminish from there.  We want to improve those intergenerational transitions.

Of those that succeed in the sale of their business, 75% experience “profound regret” within one year of exiting their business.  We want to understand why and create strategies that achieve profound success, wealth, and satisfaction.

EPI is an education company, powered by an elite community of top advisors and owners, all focused toward creating a valuable, transferable future for the business marketplace.

 

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