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Private Vs. Family Businesses: What's The Real Difference?
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Is your business a private business or a family business? In this episode of The Leadership Hustle, Andrea Frederickson and Michelle Hill discuss the distinctions between the two and the unique challenges faced by family businesses. They explore the unintentional ways that privately held businesses can evolve into family businesses and the potential consequences of not setting clear boundaries. Tune in to learn how to navigate the complexities of family dynamics in the workplace and create a thriving business for generations to come.
Takeaways
Most family businesses start unintentionally
Clear boundaries are essential
Fairness is key
Communication is crucial
Family dynamics can impact the business
A family constitution can provide guidance
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