Family Business: Why YouShouldn’t get BusinessAdvice at the Dinner Table
The purpose of your business is to feed your family. And that’s exactly why you shouldn’t get business advice at the dinner table: The family has a huge conflict of interest.
As a corporate director, “you have a fiduciary duty to manage the business according to what’s in the best interests of the corporation, not the family,” says Rob Sobey. When you bring family into the decision-making process, emotions and relationships can trump logic and profits. You’ve probably already seen this happen on some occasions.
Managing the family dynamics of a family business is not only difficult, it is also crucial, to protect your wealth. Huge family blowups have resulted ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access