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Ways to Groom Your Child for the Family Business

Posted: June 1, 2019 at 4:09 pm   /   by   /   comments (0)

Henry Hutcheson has 25 years of experience in business management and global family business consulting across a range of industries, and is a veteran of a family business himself joins Enterprise Radio. His new book is Dirty Little Secrets of Family Business (3rd edition): Ensuring Success from One Generation to the Next.

This episode of Enterprise Radio is working in conjunction with the Author Channel.

Listen to host Eric Dye & guest Henry Hutcheson discuss the following:

  1. What prompted you to write this book?
  2. Can you explain what you mean by dirty little secrets?
  3. You make an interesting point about how most family businesses are not really structured to last past a generation or two. Can you elaborate on that?
  4. Once you get to the third generation they have no idea what the beginning was like and they haven’t been able to witness how the founder went about doing what they did. The third generation is looking for rules and structures and systems and governance and Most of all, why do we do it this way?
  5. Can you talk about how to deal with the sense of entitlement the founders’ children may feel? 
  6. So the kids are thinking that they are important because they are related to their father their father treats them like a king and I have lots of money. This creates a sense of entitlement. What is the single toughest challenge for a family business?What if there’s no one to take over leadership for the family business?
  7. What is the smartest way to a family business to plan for succession?You have a very informative section on millennials. Why did you decide to include that?

Henry Hutcheson has 25 years of experience in business management and global family business consulting across a range of industries, and is a veteran of a family business himself. He is a frequent corporate and university speaker, as well as a columnist and writer for the News & Observer, Charlotte Observer, Nursery RetailerThe State, and Family Business Magazine.He has been quoted in the Wall Street Journal, Crain’s, and other business and trade magazines. His new book is Dirty Little Secrets of Family Business (3rd edition): Ensuring Success from One Generation to the Next.

Websitewww.familybusinessusa.com

Social Media Links:
Facebook: facebook.com/pages/Family-Business-USA  
Twitter: @HenryHutcheson 


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