This title will always grab your attention. If you are in or near Family Business conflict, you suddenly have hope!!
Or do you?
There is the magical ending to conflict, where everyone is heard, issues get resolved, and the business starts running better with fantastic communication. Wouldn’t that be great if that was the resolution and results everyone is looking for?
There is another end to the conflict which is what I am writing about in this article. It is the final decision to no longer be in the family business/partnership anymore and move on. It is the end of a parent/child partnership, a sibling partnership, a cousin partnership or any kind of partnership.
It is clear that the emotional component of these breakups is going to often dominate the discussions going forward. It is usually impossible to separate out the business only issues.
I believe it was Gwyneth Paltrow who coined the phrase, “conscientious decoupling” in describing her marriage break up.
A brilliant way of saying, “we are through but going to do this without killing each other”.
This is what the new goals become. How to be fair to each other, leave with what you deserve, pay something that is reasonable, and for a real long shot; fight to preserve the relationship no matter what. This is often the first thing to go, unfortunately. Emotions take over, and frustrations bubble up quickly.
There is a way to do this and preserve family relationships.
It is about utilizing the right professionals for appraisals and valuations, combined with effective communication. This transparency and open approach often help keep tempers in check.
This is what I do. If things cannot be repaired, and the mutual decision is made to “decouple”, then let me help you do this with a focus on preserving as much of the positive family relationships as possible.
Give me a call and let’s chat.