According to the US Census Bureau more than 80% of all enterprises in North America are Family Businesses meaning the family has significant ownership and influence in governance, strategy, and leadership. There are distinct advantages to family ownership like stability, commitment to employees, and a focus on social responsibility that can allow a family owned enterprise to succeed in times of crisis when other companies struggle.
The definition of success in a business family may be in the eye of the beholder. The measure of success must be determined and agreed upon by all in the family and the business. When family members are able to share their thoughts, hopes, and dreams in a safe environment, the opportunity to increase family commitment, business growth, and build a family legacy will increase.
Too Often Forgotten
“never drift off course from these two goals for your life: to walk in wisdom and to discover discernment. Don’t ever forget how they empower you. For they strengthen you inside and out and inspire you to do what’s right; you will be energized and refreshed by the healing they bring. They give you living hope to guide you, and not one of life’s tests will cause you to stumble.”
Proverbs 3: 21 – 23 The Passion Translation