When you try to discuss the future of your business with the senior generation, do they start humming “Tomorrow Never Comes”?
Does your sister assume she should be president because she’s a year older?
Are you trying to put your own stamp on the company, and lead according to your own style, but others are pushing back?
REST ASSURED, YOU’RE NOT ALONE!! You have all the telltale symptoms of NXTGEN syndrome!
Ira Bryck, director of the Family Business Center of Pioneer Valley, will attempt to lend you some perspective and a fresh outlook on your next gen of the family business problems. Simply email him, your question, to Ask Ira.
The contents of this site provides general information only. It is not intended as legal or accounting advice. Accordingly, readers should not act upon information in this website without seeking professional advice.
Dear Ira, Right now I'm a university student and I will be graduating in a year. My dad runs his own businesses in Mexico and they have been very successful. The problem is, he is not capable of teaching me how to run them. He is the type of person that has very...read more
Dear Ira, I have been researching for any issues relating to my father selling his family business to my brother well below FMV to be able to pass the company on for future generations. The business was not properly appraised due to the nature of the business being...
Dear Ira I’m glad to have the chance to write you, to see if you have an opinion that could break the stalemate between my parents, my siblings and myself, in our 3rd generation precision machine shop. The predicament is this: none of the 5 of us made a conscious...