Timothy R. Clark: Succession planning in a family business
What You May Have Missed
By Timothy R. Clark, For the Deseret News
Published: Monday, July 16 2012 8:00 a.m. MDT
For the Deseret News
In family and closely held businesses, founders tend to look to their children to take the reigns when they're ready to call it quits. Sometimes it works. We often joke that the first generation makes the wealth, the second maintains it and the third destroys it. Of course, that’s not a completely fair statement, but there’s a lot of truth to it.
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