During times of resiliency, family-owned businesses often have an advantage that is not as apparent during rapid growth.
But when the family business reaches a certain size, employees can struggle, skills gaps become obvious and mistakes happen. At this stage, business owners may find their team lacks the ability to standardize processes, design and execute growth strategies, and ensure systems are compliant and optimized — especially regarding finance.
Faced with these challenges and ongoing economic volatility, it may be time to recommend a financial leadership hire for your family business clients. Business owners may benefit from an outside perspective to guide the company forward. Here’s how.