The 7 habits of highly successful family businesses

Some family businesses float on air and others trip at every hurdle. The difference is found in these seven ‘haves’ and ‘have nots’.

Long-term, sustainable success is defined as achieving a happy family and a strong business. This holy grail of family business delivers peace and lasting prosperity. The families that genuinely achieve both have truly been blessed with the fruits of their labours – they didn’t get there through luck or neglect. The truth is that all successful families address and implement the 7 habits of highly successful business families, in some way or another.

Graph for The 7 habits of highly successful family businesses

Source: Family Business Magazine

What does it mean to have, and not have, each habit?

1. Clarity

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