The typical tenure of a CEO in a family business is close to 20 years, more than double that of a non-family business.read more
This gets asked a lot in various forms. That’s a little like people asking if it’s hard or easy being in a family?
I recently heard Shankar Vedantam, NPR’s social science correspondent, talk about the effects of birth order on how children develop. No surprise, the segment got me thinking about how birth order plays out among siblings in family businesses.
I’m number 3 (the best number of course) out of 6 children. Let that sink in. That is a LOT of children. As the years pass by, as we all get older and grow into the adults and citizens we were meant to be, I learn so many valuable lessons about family bonds, sibling love and rivalry and what kind of role model I want to be in my own family one day.
When business grows to where you can't go it alone, are you better off hiring clones, or people who complement your strengths, able to repair and build where you fall through the cracks? Little has been said about the benefit of cloning for business. Henry Ford's...