It is frightening and disappointing to see that only 30% of family businesses make it past the first generation! We love working with family businesses, their work ethic, focus on quality and caring for their customers is fantastic. However, we see the potential pitfalls that they all face when discussing how to take their businesses to the next level. The most forward thinking are those that embrace building partnerships with external forces and especially non executive or independent directors.

Living and breathing a business both inside work and in the family environment can be suffocating and perhaps not the healthiest route to long-term success and prosperity. Putting up barriers to external leaders who could add significant value and instead pushing ill equipped family members into roles that they are highly likely to fail in or, even worse, don't actually want to be in will only lead to stress, anxiety, probable failure and financial disaster.

We have seen these two different approaches close up and embracing external leaders wins every time!