Harvard Business Review Family Business Handbook

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This essential guide helps you navigate the complex decisions and relationships necessary for a thriving family business. Contrary to the common belief that "family business" refers only to small enterprises, family-owned businesses are among the most significant globally. However, few resources address the unique challenges of sharing executive roles, finances, and family gatherings. This comprehensive handbook offers expert guidance from Josh Baron and Rob Lachenauer, who draw on decades of experience with diverse family businesses worldwide. Inside, you'll discover a fresh perspective on the factors that lead to success or failure in family enterprises, along with a framework for tackling the decisions that affect your business. The authors provide step-by-step guidance to help you identify the type of family business you own, define your own success, communicate effectively, manage conflicts, prepare for transitions, and plan for future generations. Key questions about wealth specific to family businesses are included, along with exercises and assessments to clarify your current situation and future goals. Real-life stories from families and companies, such as Radio Flyer and Sierra Nevada Brewing Company, illustrate these concepts. This handbook is a valuable resource for building, growing, and sustaining your family business and the relationships within it for generations to come.