SET-UP

Finweek English Edition - - BUSINESS -

Con­sider how a child comes into the busi­ness. I s t here a s hare­hold­ing in­volved, a salar y, a job de­scrip­tion? While it’s tempt­ing to forgo up­front dis­cus­sions of this na­ture, they are ad­vis­able. Ev­ery­thing needs to be earned on merit not through en­ti­tle­ment. Get­ting this right is the dif­fer­ence be­tween win­ning and fail­ing as a fam­ily busi­ness as well as hold­ing on to good staff.

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