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Challenges of Creating Change Initiatives in Family Businesses with Rick Raymond

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Rick Raymond is founder of The Family Business Leader- A Resources and Advocate for Family Businesses The Family Business Mastermind™,  and the Lawrence N. Field Center for Entrepreneurship, Baruch College, City University New York.  His clients struggle with the dynamics of living and mixing their emotional and economic lives, lack the experience and knowledge of successful 125-year old family enterprises, or don’t have a succession strategy. His experience includes twenty years as a business coach and advisor for family business and small businesses; being an Adjunct professor at Zicklin School of Business, Baruch College; an entrepreneur and business owner; a CoachU graduate; holding an M.S. Degree; and having grown up in a third-generation family construction business.

Regarding our interview Rick notes, "It’s not uncommon for adult next-generation children in family businesses to encounter resistance when proposing innovative changes for the business. The son feels that his ideas for innovative are systematically rejected. The father tells his son that he knows the business better than the son, or that the son is bringing ideas too fast and too soon. Both the father and the son may have a role in the conflict in these situations. It’s important to know though that the issues with which family businesses struggle are not unusual. This podcast will put some light on these dynamics, and to highlight ways to navigate the challenges."

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