David Karofsky - Tips for Managing Challenges in Family Business
Host: Bill Black. Audio library: www.ExitCoachRadio.com. Bill Black interviews David Karofsky, who discusses the difficulties of family business issues, how to resolve conflicts, and the importance of understanding. New content daily - check back often!
David: Whether you're a family or you're a family business, the difficulty that families often have is getting into a room and really talking about the issues, the challenges, the differences, the conflict that has happened either over the years that has built up, or a current situation that may be happening. And what happens is, the presenting issue isn't communication, the presenting issue is often, "I don't know how to pass this business down my son or my daughter who are in the business, and the two of them are never in alignment, and I don't know what I'm going to do." But, often, underlying in the inability to allow they to get into a room, allow them to be heard, as Steven Covy says, "seek first to understand, then be understood." And if families can abide by that, and be able to develop better ways to communicate, it's going to help alleviate a lot of the challenges that are presented in a family business."
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