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Editorial Reviews
From Booklist
Since 1991, several books have been written on the subject of managing the family business. Of these, at least three were published in the last two years. Nonetheless, given the amazing numbers Paisner reports, the audience for such guides is huge. He indicates that 90 percent of the 15 million businesses in the U.S. are family owned. Significantly, only a third survive at the hands of sons and daughters and only a tenth continue for a third generation. Paisner and his family have run one of the world's largest carwash chains for more than 30 years. His heartfelt advice focuses on how to create a family culture that translates into a successful business environment. He explains how to bring children into a business and counsels ways to resolve family conflict. Paisner considers how to create opportunities for nonfamily members and how to use outside directors. He also addresses such practical concerns as tax-planning, preparing for succession, setting up a retirement plan, and knowing when to sell. David Rouse --This text refers to an out of print or unavailable edition of this title.
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Since 1991, several books have been written on the subject of managing the family business. Of these, at least three were published in the last two years. Nonetheless, given the amazing numbers Paisner reports, the audience for such guides is huge. He indicates that 90 percent of the 15 million businesses in the U.S. are family owned. Significantly, only a third survive at the hands of sons and daughters and only a tenth continue for a third generation. Paisner and his family have run one of the world's largest carwash chains for more than 30 years. His heartfelt advice focuses on how to create a family culture that translates into a successful business environment. He explains how to bring children into a business and counsels ways to resolve family conflict. Paisner considers how to create opportunities for nonfamily members and how to use outside directors. He also addresses such practical concerns as tax-planning, preparing for succession, setting up a retirement plan, and knowing when to sell. David Rouse --This text refers to an out of print or unavailable edition of this title.
Product Description
From the local dry cleaner to the nation’s largest breweries, family businesses make up 90 percent of the 15 million businesses in the United States. Yet only one-third make it to the second generation, and only 10 percent to the third. As he prepared to retire after 30 years at the helm of a successful business, Marshall Paisner set out to develop a resource that would outline a comprehensive set of principles to help business owners establish a strong foundation and manage transitions successfully. Drawing from his own extensive experience, new primary research, and examples from a wide range of family businesses, Paisner offers practical recommendations for handling conflict, establishing professional management structures, setting strategic goals, making the most of outside directors, preparing heirs to take the reins, proactively setting tax and estate priorities, and making wise selling decisions.
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