Family businesses rely on teamwork. The family infrastructure sets the inherent expectations and role model (good or bad) for teamwork to management and employees. The family team concept should also apply to their advisors. Most families base their advisor decisions upon relationship, often times with tenure taking blind precedence over the quality of service.  Although I acknowledge that the average family business is increasing in sophistication, I continue to see abuse and malpractice caused by predators who are seeking to take advantage of the natural tendency of family business leaders to rely upon relationships to make important decisions. Unfortunately there are far too many wolves wearing sheep’s clothing.

I am frequently asked – “What is the biggest problem that family businesses face?” The ugliest problem by far is what I call The Family Business Curse: ENABLEMENT or FAMILY BUSINESS WELFARE which can be described as - able bodied, capable minded family members active or inactive in the business who for any number of excuses are not contributing, but are provided ongoing financial assistance/subsidy to keep their standard of living up to par with those that are sacrificing to make the business work.