How to Talk to a Son About a Family Business

Passing down a family business can be tough. Concerns are natural especially if you've built up a small business over the years. It's only right that you want to see it continue in the family, but in order to figure out the best way to pass the baton, you may have to put your emotions aside. Read on to learn how to talk to a son about a family business.

Difficulty: Moderate

Instructions

1. Don't force it. The age-old conflict of fathers strong-arming their sons into the family business is so common it's almost a cliché. But this usually backfires. It's better to approach the issue with an adaptive mindset to fix problems as they occur.

2. Find out about your son's motivations. Ask questions to figure out his position on the future of the business or if he has other aspirations for his life.

3. Be honest about your feelings. When your son has explained how he feels, it's best to be direct and clear about your own motivations without being negative.

4. Find creative ways to involve your son in the business in ways he will enjoy. If he's an artist, he may be effective in a graphic design position. If he's more of a "people person" he may excel at management.

5. Set timelines. Talk about the how and when so that you're both on the same page about when the business will transition in the future.