Chapter 1
Family Business Basics
In This Chapter
◆ Definition of a family business
◆ How family businesses start
◆ Challenges of family businesses
◆ Strengths and weaknesses of family businesses
Justin was working in the family business founded by Don, his father. Justin was a young man in his twenties. When Justin wanted to take a few days off work to travel with a friend, he asked his department manager, who told him it was a busy time at work and he couldn’t spare him. But Justin left anyway and had a great time. When he returned to work a few days later, he was called into Don’s office. “Justin,” said Don, “I wear two hats. I’m your father, but I’m also the owner of the company. And as the owner, I have to fire you. We needed you here at work ...

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