4 Tensions in Family Businesses — and How to Work Through Them

Many family businesses lack a sense of shared purpose. Family members too often avoid tough issues by avoiding meaningful conversations. Left unaddressed, these tensions increase distrust in families and obstruct performance in their organizations. But with the right skills, high-trust relationships and structures in place, such breakdowns can be overcome. This article discusses some practical suggestions for aligning a family business’s shared purpose, mutual trust, and collective decision making.