Here’s why 70% of #first generation #family businesses don’t reach the next generation.

• Delayed and/or poor strategic planning to maximize value.

• Insufficient business equity value built for first generation owner to exit.

• Incongruent family member succession expectations and entitlement attitudes.

• Unqualified and uncommitted family members allowed to join the business.

• A succession leadership vacuum due to poor cross-functional training, inadequate supervising, and underdeveloped, undiversified family member expertise.

• Family nepotism, no structured policies about whom to employ, whom to promote, and how to balance family and business interests.

• Poor communications between family members causing disharmony both inside and outside the business.

• Wrongly selected and utilized outside advisors.

These 8 traps lower the Value Builder Scores of the 8 key drivers that build the value of a family business. To learn more, get a FREE Value Builder Score for your family business.