If you're preparing to take over the family business, you'll want to achieve as seamless a transition as possible. Naturally, you and your staff will experience a few growing pains. Most changes require some period of adjustment, though you'll want to do your best to shield your customers from any interruptions or service glitches.
7 steps for smoothly taking over the family business
Here are some basic rules to follow as you step into the role of leadership:
FAQs about taking over the family business
Below we have summarized the most important questions and answers on the subject.
How do you take over the family business?
Why do family businesses need a succession plan?
A succession plan is a blueprint that's intended to guide you forward in the transition with a minimal amount of conflict. It ensures that all involved parties know how succession will take place, who is responsible for what, and strategies for moving the company forward.
Source: AllBusiness Editors
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