little easier, it hurts the long-term growth of the business because
the founders can't reach beyond their local community. When the next
generation of family members, who are usually more acculturated and
are less connected to the immigrant experience, take over the business
they are put in a difficult position. They don't have the same
relationships within the community as their parents but the business
itself isn't positioned to grow beyond that community. Don't put your
children in this impossible position; instead start planning for
growth beyond your comfort zone from the beginning.
A family-owned business can enrich you both financially and personally, but only if it is managed correctly. Don't let inexperience, jealousy or unforeseen circumstances steal your dream away. Your great-great-great grandchildren will appreciate it!