Dear Reader, 

During a recent conversation with a family, the senior members expressed their satisfaction and happiness over close bonding among younger family members. According to them (two brothers), younger generation had a great rapport and understanding among themselves. Family harmony was the mantra for the family’s success and prosperity. 

While discussing family and business challenges with the younger members, I realized the situation was different. Family members experienced and were aware about communication gaps in their interactions. There were differences on business decisions that impacted profitability of the business. Their aspirations were not aligned. Because the senior members acted like glue, things were nice and comfortable, but would not remain so after the seniors were not in power.   

This is the scenario in most families-in-business especially when two generations are working together. Harmony in family as well as business relationships is the outcome of the family’s values and governance.  Here are experts’ views on how to find the balance in families that work together and ways to create harmony in family businesses. 

Happy Reading!