The Business of Family dream it. build it. pass it on.
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May 27, 2025 Jane Antoniak, a Strategic Communication Consultant, interviews Tammy Buss, an author and advisor focused on family business dynamics. They delve into why so many first-generation businesses falter in family succession and the importance of having tough conversations. Tammy shares insights from her workbook-style book that helps families clarify their values and vision to prevent regrets about legacy. With practical tools and a heartfelt approach, they emphasize the need for honest planning to ensure a lasting family legacy.
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Family Business Exit Reality
- Jane Antoniak shares how none of her siblings continued the family printing business.
- They sold it to an employee, illustrating one exit option discussed in Tammy Buss's book.
Early Talks Crucial For Transition
- Only about 30% of family businesses transition to the next generation.
- Early conversation is crucial because selling often happens due to assumption kids aren't interested.
Tammy's Personal Business Journey
- Tammy began in insurance by necessity after employer bankruptcy and later focused on self-employed clients.
- After 30 years she faced succession questions herself, fueling her shift to family business succession consulting.
