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Your monthly resource for information on managing a Family Business from authorities Paul and David Karofsky. 
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The Rules of Engagement: 
Why Establishing Entry Criteria is Crucial to Your Family Business

When’s the best time to write a prenup? Hint; it’s not the day before the wedding – much less the day after. Defined entry criteria for family members – what we call the rules of engagement - are the business equivalent of prenups, and should be spelled out and in place well in advance of need. Failure to establish these rules ahead of time is an invitation to disaster, particularly in a family business where post facto standard setting can easily be construed as a personal attack. But if  members of the younger generation coming aboard understand what’s required of them and can perform up to the expectations of senior management, of other family members and of the rest of the company, then things run smoothly. 

Interview with Mitzi Perdue

 
"How Values Set the Stage for
the Next Generation”

Interviewed by Paul and
David Karofsky 
  Thursday, April 21
12:00 -1:00 p.m. ET



 
Throughout this book, Paul and David Karofsky address the challenge of good communication and share case studies of what happens when it fails.


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