We are retiring after having owned two restaurants for over thirty years. My wife insists we give one each to our two sons. Our older son is irresponsible and I know he will run the business into the ground. Should we just sell the two restaurants? (more…)

My son is 23 and just graduated college with a degree in finance. I would like for him to take over the family business in 5 to 10 years. What are some suggestions for making this happen? (more…)

I am a 24 year old woman with a master’s degree in English literature. I’m currently managing a bookstore and contemplating going for my Ph.D. and teaching. My father owns a publishing and marketing company with about $15 million in revenues. My younger brother is 19 and a freshman in college. He says he has no idea what he wants to major in, except maybe partying. Our father is in his late 50’s and had a heart attack last year. Two weeks ago he asked me to come into the business and eventually run it. He feels confident I could do it with the help of management training and a mentoring program over the next 3 or 4 years. I know a great deal about the business having worked in it throughout my adolescence. I’m engaged to be married in six months to someone who is in the publishing industry. I haven’t mentioned it to him yet since I think he might see it as a good opportunity for us but I’m not sure that’s what I want to do. I feel selfish and scared. How should I be thinking about this? (more…)