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This year’s Super Bowl has some family business ties. In an NFL league where the majority of the teams are family-held, it’s surprising that only one of the two final teams, the Denver Broncos, is family-owned.
The future of family-owned sports franchises are facing increasing challenges in ownership and leadership transitions.
“We have all heard how important it is to gain some outside experience working in another company before joining the family business.“
But how do we do actually accomplish this?
The key is to take advantage of this opportunity before you get too involved in your own family business. Some people prefer to work in the family business a few years and then go work outside, while others do it right from the start. Waiting too long will risk that you will get so involved in your family business that you you won’t be able to break away from your responsibility or you will feel a diminished return from the experience.
Why is this so important? (read more)