Making Sibling Teams Work: The Next Generation

Family businesses are increasingly being passed from founder to next-generation sibling teams. Brothers and sisters own and run businesses together in relationships that are characterized by strength, joy, love and support - or by dysfunction, disharmony and disaster. This book will help business-owning parents position their children for success as co-owners and co-leaders. It will help wives and husbands to be supportive, not overwhelmed, by the dynamics of the family into which they've married. This book will also help those who are or might become part of a team of sibling owners or managers work more effectively. In Making Sibling Teams Work: The Next Generation, you'll learn: how parents can improve the odds of next generation success; how in-laws can prepare themselves for their roles and play them effectively; how brothers and sisters can ensure successful working relationships; how to develop the infrastructure of governance, policies, and procedures that optimize planning, decision making and accountability; how to assure that Mom and Dad won't divide the sibling team; how to nurture positive personal relationships among siblings and their spouses; how to develop and articulate the sibling team's values and goals; how to prepare for the coming cousins' generation; and much more... This book will show how teams can successfully pilot a family business through the vulnerable second-generation stage.