How to grow a business

The Warner family's uncommon succession strategy seems to be working – three generations on, Warner's Nurseries is worth millions.

Many family businesses get tied up in knots with succession. They are either unfair about it, so that one favoured child gets the business; or too fair, with everyone getting it, setting the business up for the failure that comes from no one being in charge and no one really valuing it.

The problem stems from the idea that the business exists for the family, and that the children are entitled to it -- they just have to wait, and it’s theirs.

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