What I find particularly interesting in this interview with Howard Kahn of Kahn Lucas is his comments about family businesses failing because they are seen as somewhere where under performing family members can 'hide'.
We have seen some examples of this and the family dynamic often means that this can go unchecked and cause tensions and fallings out.
Running his business as a business has helped to contribute to the businesses success.
He also attributes the businesses ability to adapt and be agile as a key factor, something we see in the successful family businesses we work with.
A family business has to be run as a meritocracy and as a business, not a 'family' business. Lot of companies have failed because it becomes a home for taking care of non-performing family members. We did the opposite.