Family and business are two of the most powerful forces in the world. Our families shape our character through our genes and much of our upbringing. Businesses use our most valuable resources: people, time, and capital. When combined, family and business amplify their impact and complexity. If you are reading this book, you live and work within this intense bond and possess knowledge and experiences that external observers rarely understand.

The framework and practices of this book are based on decades of experience gained from working with family businesses of many different sizes, industries, and geographic locations. In this book, we will share the stories of some of these families, but necessarily conceal any identifying details. The tactics in this book have worked for hundreds of business families, and we hope you find ways to apply them as well. You should assess whether our suggestions will be effective for your family under the conditions and timeframe relevant to your case, and what improvements—if any—you will need to make.

There are very few best practices that all family businesses must adopt. We will highlight any exceptions. We hold great respect for family businesses. As family business advisors, we share the same passion for helping the individuals who must make important decisions together, across the many levels of a business.