By Mike Bossy
I was having a conversation with my daughter Gabrielle about goals and goal setting. She has a goal to swim in 100 different Ontario lakes in her life time. Later in the day, I was thinking about a goal of my own, although far less healthy. I want to try 100 different french fry wagons in Ontario (half kiddingly). These are two very different goals.
Here is my point. Business families have to determine if the participants in a family business have a “Common Interest”. Without the development of a “Common Interest” for the family business, you are unable to develop a set of rules, based on a set of facts, that moves the family business forward.
Have a frank discussion with all family members about their individual goals and whether there is a match. Based on my experience it will save you a lot of grief.
P.S. My daughter Gabrielle is a blogger too and you can find her writing at the “Hippie Historian”.