Less than one-third of family-owned businesses survives until the second generation because owners or managers avoid making decisions about the company's future. As a result, they fail to adapt to changing business and family conditions. In this best-selling reprint of his classic Keeping the Family Business Healthy, John Ward offers numerous practical resources to help family businesses develop strategies for long-term prosperity. You'll learn:
how to overcome difficulties caused by changes in the nature of the
business, its organization's character, or the family's expectations;
how to ensure family interest in leading the business;
how to assess the firm's financial and market situation;
how to develop a strategic plan;
how to plan the family's role in the company's future;
how to shape a business strategy that incorporates the family;
how to promote a revitalized business vision and strategy after a
and much more...
In its pages you'll find a number of practical worksheets and models like:
a values questionnaire;
a sample financial analysis of business;
strategic planning worksheets;
sample business strategic plan;
sample family strategic plan;
chart detailing 'blood' equity versus 'sweat equity'
Keeping the Family Business Healthy is a useful guide for owners, managers, family shareholders, and the professionals who serve family firms.