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The Business Wealth Builders
book

The Business Wealth Builders

by Phil Symchych, Alan Weiss
October 2015
Intermediate to advanced
175 pages
5h 2m
English
Business Expert Press
Content preview from The Business Wealth Builders

CHAPTER 10

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 ...

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Publisher Resources

ISBN: 9781631572913