7/12/2021
How to Prepare Future Generations for the Family Business | Barry Kornfeld | Family-Owned & Operated Businesses
a How to Prepare Future Generations for the Family Business by Barry Kornfeld | Jul 2, 2021 | Barry Kornfeld, Family-Owned & Operated Businesses
To keep a successful family business on its feet for years to come, it’s essential to have a plan for future generations. No matter how well your business has done or how long it has been around, with new years come new challenges. To keep the business growing and adapting, the future generations have to be prepared to make the right decisions and implement the correct strategies by learning from the older generations. Generations Working Together The best way to prepare the future generations to take over the family business one day is by working together early on. Simply passing along the business and hoping for the best is not enough. It’s essential for generations to work alongside one another and learn from each other. The older members of the family obviously have expertise and wisdom they can pass down, while younger generations will have new ideas to adapt to the changing times. https://barrykornfeld.com/how-to-prepare-future-generations-for-the-family-business/
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