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Compass for Entrepreneurial Families

Business & Life Cycles

Robert took over the Family Business from his Dad when he was ill. He has been running the business for over 30 years and wants out. His wife Jane returned to University to get a marketing degree when her 3 kids where in high school, after graduation she joined her husband in the business.

She enjoys her work and does not really want to slow down, staying home and playing grandmother is not her thing.

Robert is seriously considering selling the business while it is still prosperous.

Eric the eldest is living close by and running a small design company with his wife, his 2 siblings are living in other cities.

During a family dinner Robert breaks the news that he met a potential buyer. Jane is upset and Eric is pensive. Jane wants Robert to consult the other children before making a final move, so a family meeting is planned for the following week.

During the meeting Robert expresses his fatigue and that he no longer has the drive to run the business. Eric steps in and shares that he gave this lots of thought and discussed it with his wife and that if given the chance and the support he would like to come into the business and learn and be mentored by his Dad in order to eventually take over the business, his sibling who have no interest in the business think this is a swell idea.

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