For those of us that are fans of mafia movies and The Sopranos, when we hear the term “Family Business” we think of a powerful Don in a nice suit, smoking a nice cigar, sitting behind a nice desk, listening to people who need a favor (or are seeking mercy). It usually doesn’t end well for those people.
In The Godfather, Michael Corleone tells his brother Fredo, “Never take sides against the family.”
In The Godfather II, Michael has Fredo executed for doing exactly that. At least he had the good taste to wait until after their mother passed away.
In most cases, the ‘family business” doesn’t include such dire consequences, but can be both a blessing and a curse. Many of us dream of creating something our kids can take over one day, but the day-to-day reality can make the dream seem like a nightmare.
In the November 9, 2015 edition of The Weekly See 7, we stray a bit from the usual format. Instead of running with the standard categories and links to articles and videos from multiple sources, we simply provide you with links to articles and videos from various postings at Inc. online covering a variety of areas with respect to this week’s theme – “family business.”
Take a look and share with us some of the things you do to ensure the family business doesn’t kill the family, succession planning, or anything else as it relates.