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Managing Family Business Conflicts

Managing family business conflicts is essential for success and continuity. According to the Family Firm Institute, family-owned firms comprise 80 to 90 percent of all businesses in North America. Approximately 70-80 percent of those family firms make it to the second generation and only 13 percent of those make it to the third generation.

Succession planning requires the ability to handle conflicting views and interests. Too often, families avoid this process due to the strong emotions that may surface. Consequently, failure to properly prepare for transitions- either within the family, or without, is one of the leading causes of failure for family-owned businesses.

Love and money can be difficult to balance, making smooth transitions and operations a challenge. RDA consultants facilitate dialogue to surface key family issues while providing the safety needed to reach the best business decisions. Effective conflict management allows economic and strategic priorities to be addressed, using a variety of more conventional strategic consulting services as needed.