Looking back on 2017, I found it was an interesting consulting year.
Family issues sabotaging effective business practices came at me from many directions. Let me share with you many of the family issues I observed.
- Parents who struggle making business decisions because it may interfere with family dynamics.
- Parents who want their children to do what is right without the proper structure.
- Mom and dad have different agendas for the business.
- A laissez-faire dad who won’t make the hard decisions that are best for the business vs. family issues.
- Parents and/or children who talk about dysfunctional family relationships with other store employees.
- Relatives spreading rumors about other relatives working in the dealership.
- Children who are placed into leadership positions without being properly prepared and make major leadership faux pas when working with people.
- Lack of an exit strategy for the parents to turn the business over to the heir apparent.
- Siblings fighting with each other and sometimes publicly.
- In-laws sticking their noses into the business causing consternation.
- A mom who generally wants everyone to just be happy and get along with each other.
- Children whose personal lifestyles adversely affects the business.
Western Equipment Dealer Magazine Spring 2018 Issue
By Larry Cole PhD