Positioning the Family Business for Growth


Positioning the Family Business for Growth

As our family businesses grow, we need to begin introducing more formal structure and organization while retaining the unique benefits of being a small business. Some of the issues include, formalizing the organization structure, stricter financial reporting, recruiting non-family executives, and openly sharing strategy with employees. Understanding what outside investors find important when valuing a private business can help us develop and grow the business in a like way even if we aren’t planning to sell.