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.

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 so that economic and strategic priorities can be addressed, using a variety of more conventional strategic consulting services as needed.

Richard Dana Associates — founded by an executive with personal family-owned business experience — understands the unique circumstances facing family businesses, and has extensive experience consulting to family businesses and addressing the unique issues that arise from the ownership structure and interpersonal relationships therein.

In our engagements, we raise awareness of the underlying family issues that impact productivity and success. These include, but are not limited to identifying and clarifying values and the psychological structure of the organization. We respect and explore power and control issues that, unchecked, may give rise to guilt, resentment, and compromised performance.