While the percentage of construction companies who are family businesses has declined over the decades, about 50% of contractors are still owned and operated by their families of origin. And we must deal with reality: while every business has its own unforgiving set of challenges, family owned businesses have layers of complexity and pressures that others simply do not have.
Please tune in this week as Wayne details why family businesses remain unique and walks you through a three stage process for getting your family NextGen members ready to lead. Click here to download Dennis Engelbrecht’s short White Paper on this subject.
The next class of The Contractor Business Boot Camp starting Jan 27, 2022 is already a half-full! Go ahead and sign your NextGen successors up now so they can learn the BUSINESS of construction from experienced industry peers. Contact Charlotte today at ckopp@familybusinessinstitute.com to learn more.
I had to work my way up from cleanup man, to mixer man, to mason, to mason foreman to owner. Best part for me was seeing how my family did things in the business while I was growing up. I took the good that I saw and got rid of the bad! You definitely need the respect of your team or it will never work.
Thanks, Paul.
Excellent outline. We are in that process, and Dennis and Rob’s outline was highly helpful for both generations as well as our senior leadership team. thanks.
Thank you, Kent. Waiting for Jim and Don to reply so the whole IA contingent has had their comments!