Surviving and Thriving in a Family Business
Family businesses face common challenges, such as conflicts, communication issues, boundary maintenance, and succession planning.
In this episode of the Prime Resources Podcast, join BDR Head Coach Jay Crowe as he explains how your family business can prioritize communication, have transparent structures, well-defined policies and procedures, professional management, and a plan for succession and continuity.
Podcast: Play in new window | Download (Duration: 25:50 — 16.1MB)
Time Stamps
- (00:58) – About Jay and his industry background
- (02:08) – What are common challenges you see with clients working in family businesses?
- (04:20) – What is the importance of communication in a family business?
- (10:05) – How do you handle the conflicts that might arise?
- (12:54) – What are some pieces of a conflict resolution plan?
- (14:16) – Are there family businesses that have structures that are more successful than others?
- (15:56) – What does the family need to share / or not share with the rest of the company?
- (22:17) – What would you recommend for training your family members to take over?
- (24:39) – Final thoughts
About Jay Crowe
Jay Crowe’s experience in the industry over the past 20 years has spanned business ownership, strategic leadership, financial analytics, and team development. Because Jay was a Profit Coach client, he has been in their shoes and knows what it takes to succeed as a client and business owner.
About the Prime Resources Podcast
BDR’s Prime Resources Podcast is dedicated to providing you with the knowledge you need to help your business achieve Prime results – with Prime being the most flourishing stage or state.
Listen to more episodes of the Prime Resources Podcast HERE
You can also listen to all episodes of the Prime Resources Podcast on Spotify
