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Don't undermine your children by "gifting" them your business

Do not underestimate how damaging it can be to pass your business to your children. Every Family's Business is the first book to talk about the importance of children assuming risk if they are to fully mature and become authentic business owners.

When a business owner makes it too easy for the next generation to own the business, failure and wealth destruction too often result.

Don't risk your most precious relationships

Family businesses are typically easy to start, complex to manage and monumentally difficult to exit.

Every Family's Business shows you how to align your family's financial interests so that everyone gets what they want, when they want it. The book offers familiar examples of what typically happens when family members are not on the same page.

Don't lose it all by loving your business to death

Successful business owners never confuse their love of business with love of "a" business. If you hang on to your business too long and view it as your "legacy" you may be dooming your children in the business to failure and denying yourself a comfortable retirement.

Every Family's Business offers insight into what happens when families obsessively try to keep their business in the family's hands forever.


New York Times - 10 Books Business Owners Should Read

Every Family’s Business selected by New York Times

10 Books Every Business Owner Should Read

Every Family’s Business has been selected by prominent New York Times business blogger Josh Patrick as one of 10 books that every business owner should read. The books on the list detail how to ensure success, manage crisis, and, in the case of Every Family’s Business, determine the best exit strategy.

12 Common Sense Questions Could Save Your Family

Forever change the future of your family business

Every Family’s Business challenges the idea that successful family businesses must keep family issues and business issues separate. Tom believes this separation is impossible and that most family businesses are set up from the beginning to fail because they attempt it.

Tom offers a compelling argument for why families should be clear about when they will sell the business and to whom. Families that are upfront and realistic about their goals for transitioning ownership of the business can avoid jealousy, sibling rivalry and regrettable inter-family lawsuits.

Tom has designed the 12 Common Sense Questions offered in Every Family’s Business to start a conversation among family members with the view of protecting wealth and relationships.

Order the best-selling book that has helped protect the wealth of thousands of family businesses around the world.

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A succession plan must be more than naming a beneficiary; it must be a thoughtful, well-communicated plan.

Owners who maintain ownership control of their businesses while delegating management to someone else, whether family or professional managers, assume extraordinary risks.

When a business owner dies and gifts his or her shares to a surviving spouse or children without having a detailed conversation about who will own what and how, family discord and wealth destruction are almost guaranteed.

If no plan is in place, feuding siblings, parent-child estrangement and disgruntled professional managers will continue to make litigation lawyers the only beneficiary of broken family business dreams.

Abandon the concept of “gifting” your business and replace it with clarity about who will buy your business. Every Family’s Business gives owners permission to sell their businesses to their children – or anyone else.

Struggle, risk, failure and adapting to change are what distinguish business owners from employees. Businesses gifted to the next generation, who have risked nothing, will ultimately join the 70% of businesses that fail when passed to the second generation.

ORDER YOUR COPY OF EVERY FAMILY’S BUSINESS TODAY

Also from Best-Selling Author and Award-Winning Speaker Tom Deans

Willing Wisdom – 7 Questions Successful Familes Ask

Willing Wisdom - 7 Questions Successful Families Ask - A unique approach to writing your willEvery succession plan requires a business owner to also up-date their will and there is no better book to help them than Willing Wisdom.

The best estate plans are conceived by families who talk openly and honestly about the future — Willing Wisdom offers 7 questions to help guide these extraordinary conversations.
 
 
 
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