Improving Family Business Performance

Improving Family Business Performance

Understanding the Family Business
September 1996

by Gerald L. Sherman

Some family owned businesses (FOBs) have a long-term history of consistent profitability. Others, however, have a similarly long-term history of weak performance. The obvious question is why.

Having worked closely with hundreds of small and medium sized family owned businesses for over two decades, it has become clear that there are a small number of salient factors which are critical.Ultimately, these factors coalesce into a series of “Core Business Values” which can substantially determine the FOB’s performance throughout the entire course of its existence. More…