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Running a business-first family / Focus on farm transition / FCC Knowledge

Mar 06, 2020

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Video: Running a business-first family / Focus on farm transition / FCC Knowledge

Are you operating a family-first business or a business-first family? Family business consultant Jolene Brown breaks down these concepts and why it’s important to know the difference.

Key takeaways:

• Business first family – structured to ensure people are paid for value, not genetics

• Non-family work experience is important – not all lessons can be taught by parents

• Next gen understands value of proper business structures and can help support it

• You can love family unconditionally, but as a business there are conditions

• Sometimes next best leaders of the business are not family members

• Let advisors talk to each other and get them all in a room together

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