What About Children Who Are Not in the Family Business?

In many families, not all the children make a choice to join the family business. It is important that we understand some of the reasons why they don’t. There are several which I can quickly list including but not limited to the following: they weren’t encouraged to join, they were not invited in (for many reasons that warrants an article on its own), they don’t like the family business, they may not get along with their siblings and recognize even greater conflict ahead by joining them in the business, they may not have any applicable skill set to bring to the table, and my favorite one they have found their own passion outside of the family business. I Want To Do My Own Thing Let’s focus on those that have a chosen profession or career that does not involve the family business. Looking at transition and succession planning from their view is quite […]