Published on February 16, 2014
infrastructure informal flexible entrepreneurial indecisive boundary problems lack of management resistant to change
roles multiple roles quick decision making role confusion unqualified members nepotism
leadership creative ambitious informal authority autocratic resistant to structures avoids letting go
involvement shared values commitment/loyalty strong sense of mission family matters mixed feuds/rivalry emotional decisions sharing the DREAM!
time long-term perspective patient capital deeper ties traditional bound decisions affected by history trust vs. early disappointments
succession early training mentoring a life-long process voluntary exit traditional bound decisions affected by history trust vs. early disappointments
ownership/governance closely held high degree of control earnings are motivators sacrifice growth for control often no outside BODs high premium on privacy
complexity adaptable common language efficient communications reactive founder's role stifles innovation high risk for conflicts
culture can foster creativity rich interplay of roles/goals must be managed to avoid confusion can be a drain of resources and energy
“Careers are not made in a family business, they are born.” Thanks! Siddhant Bhatia
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