“Should your kids be brought into the business?”
Only if they have a vision for the company’s future; if not, let them go into the “real world” for a while. We all want the best for our children, and because we love them, we fall into the trap of overlooking their limitations and personal needs. Most family businesses never make it to the next generation, and there is a reason for this. Every generation has access to new ideas and technologies. This unique point of view grinds against the methods you used to build the company. The next generation can seem lazy, self-centered, aloof, or plain crazy. Try to understand their ideas or seek a “Buffer” an advisor to work with them to develop their plan.
P.S. If you have ever wanted to exchange ideas or have a conversation with a Business Coach, let’s set up a no-pressure and no-fee time to connect.