Financially Simple

When you own a family business, it's important to keep family discord and internal conflict out of the business. Those who can manage the family dynamics within their companies will often see them become generational businesses. But that's not always the easiest thing to do. In this episode, I'm joined by a father & son team who has made the family business work. My dear friends Chris (CEO) and Scott Snider (President) of the Exit Planning Institute have found the key to dealing with internal conflict as a family-owned business. Together, we will discuss some of the difficulties of operating generational businesses and the solutions they've found to combat them.   This week on The Financially Simple Podcast: What it's like for the second generation. (02:16) Designing the business to prevent family conflict. (03:40) Battling an "entitlement" mindset. (07:20) Protecting the family culture. (15:30) Transition of control. (20:45) Knowing when the second generation is ready. (28:15) The emotions of making an