Businessweek Archives

Family Business Mistakes


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.


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