Do's and Dont's of Running a Successful Family Business

According to an article on the Harvard Business Review 70% of family-owned businesses fail or are sold before the second generation gets a chance to take over. Just 10% remain active privately held companies for the third generation to lead.

Today’s interview, we are going to be talking with a dad and son team about 5 Do's and Dont's of Running a Successful Family Business. Sometimes family businesses can be a disaster, when in reality, a well-run family company can be the strongest business out there. Jedd and Taylor Parker are owners of Rain City Promotions which is a successful marketing company in Seattle.