Pass the Business, Please: How to Transition the Family Company to the Next Generation

Will your family business survive to the next generation? How about the generation after that? While the success rate for family-owned companies thriving into the third generation is low, you can beat the odds and build a prosperous family business that leaves a lasting legacy. Lois Lang shows you how. In Pass the Business, Please: How to Transition the Family Company to the Next Generation, Lang reveals the most common pitfalls that derail family businesses and offers solid strategies for avoiding them. And by following the journeys of three real-life family companies Lang profiles, you will learn what to do, what not to do, and how to correct course midway to ensure your company's success. From dealing with sibling rivalry and communication issues to choosing the next successor and long-term planning, Lang lays out a detailed road map any family business can follow. By using this book as your guide, you will gain the skills and know-how to create a family business that lasts for generations to come.