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Family Business Mistakes

Posted by: Rod Kurtz on November 15, 2005

Most parents think that if you’re in a family business you need to learn everything there is to know about that business, you need to learn to work every job there is. What they forget is the reason they did it that way — they started from zero and built the business to $100 million dollars in sales. When their children come in, they’re coming in at the base of that number, whatever it is. If you’re coming into a big business, you don’t have to know how to do all those things, what you have to know is that you have people who know how.

Bill Provett
Facilitator
Family Business Institute
Raleigh, N.C.

Reader Comments

Clifford E. Hahn III

November 16, 2005 1:14 PM

Great tip! :-)

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Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

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