From the local dry cleaner to the nation’s largest breweries, family businesses make up 90 percent of the 15 million businesses in the United States. Yet only one-third make it to the second generation, and only 10 percent to the third. As he prepared to retire after 30 years at the helm of a successful business, Marshall Paisner set out to develop a resource that would outline a comprehensive set of principles to help business owners establish a strong foundation and manage transitions successfully. Drawing from his own extensive experience, new primary research, and examples from a wide range of family businesses, Paisner offers practical recommendations for handling conflict, establishing professional management structures, setting strategic goals, making the most of outside directors, preparing heirs to take the reins, proactively setting tax and estate priorities, and making wise selling decisions.
Marshall B. Paisner is Chairman of the Board of ScrubaDub Auto Wash Centers, Inc., one of the world’s leading car wash chains, an enterprise he founded in 1965. An active proponent of the family business, he was a founding member of the Boston-based Family Business Forum and Family Business Dialog, and a founding advisor of Northeastern University’s Center for Family Business.