Statistics indicate that more than 70% of all businesses will not survive to the second generation. Less than 20% will make it to the third generation. These facts are illuminated when one discovers that more than 70% of business owners desire to perpetuate their companies and 70% of the key managers and or children working in the business desire to retain control. If the desire is so great, why is the mortality rate so high?
Through our experiences in leading and running businesses and working with hundreds of mid-market companies , we discovered several critical issues or “tripping points” that keep business owners from successfully achieving their preferred results.
Underdeveloped Knowledge and Performance
Poor Discipline and Accountability