Do you think that the children were ever properly taught about financial literacy. Part of the dysfunction in this family stems from its lack of discussion around the responsibility of wealth and the challenges and simple hard work needed to achieve that.
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You may not be here forever…you are mortal.
These are prophetic words, that I have repeated many times to business owners
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To me, family is far more important than anything else. Second importance is to surround myself with people that share the same values….honesty, integrity and honour.
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What is truly meaningful to you in your life. A practical exercise to help you frame this existential question is to write your obituary.
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It is not uncommon in a family business where the parents want to treat all siblings exactly the same, meaning that they each receive the same amount of “compensation” from the business. I
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