Hard Conversations for Family Business

Sample Family Business Hard Conversations where Advantage Family Business Center has helped, resulting in a safe, satisfactory, and peaceful resolution. Here are some outlined problems these family businesses encountered. While we consider their solutions confidential, if these stories strike a cord with you, please give us a call 831-475-4479 for free 15 minute consultation. We know you do not want your family to be in pain. We are here to help you to create peaceful family solutions and help grow a profitable family business. When the Business of Family Matters – the Advantage Family Business Center skilled coaching team is here to facilitate or mediate a peaceful solution for you.

Power Struggle Between Father and Son: The Lead Ceiling

Mother and Father started the business twenty years ago. They had done well through all the ups and downs of the marketplace. Now as married adults, both their son and daughter were working for them. The son had aspirations for his father’s position. The father agreed in concept that the son should take over. However, the father could not tolerate seeing his son do things differently than he would. The son had worked in this environment for ten years. Now he was ready to leave to company. He felt there was no way for him to grow. He would always be his father’s follower in this company.

Pitfalls of Trying Out Semi- Retirement

Mother and Father had a service they provided nationwide. Their adult son worked with them, but he was not as talented or as experienced in this very specialized antique restoration work. The parents wanted to take off for a few months to try out semi-retirement. However, additional funds would be necessary to hire some help. In addition, the  parents were concerned that their son might not be able to serve their customers well enough. We helped the three of them devise an action plan.

Family Business Succession Caught in Economic Downturn.

The marketplace began a severe decline, just as two adult sons entered the family business. Their ideas and innovations were received with enthusiasm. Money was borrowed to implement many of the new ideas. Changes were made in the business in hopes of keeping it alive. Mom and Dad were eager to retire, but with dwindling resources, couldn’t afford to. The business was struggling, having to lay off several employees who had been with them more than 15 years. The pressure was on. Should the sons look for work elsewhere? Were they producing enough to more than cover their paychecks and perks?     With help, they made an unusual plan that helped keep them out of hot water.

In-laws Or Outlaws in the Family Business?

A family business was started by parents and two young adult sons. They were a four- way partnership. Both sons eventually married. One was a marriage made in heaven and the other was not. One daughter-in-law constantly complained that her husband was being taken advantage of, that he wasn’t paid enough, that someone else always got unfair advantage. This negative pull in the family dynamic took its toll. The original family unit began to come apart. They sought family coaching to save their family and their business.