In the best of worlds a family business would thrive for many generations, providing inspiration and revenue for decades to come. Reality, alas, is usually more somber. “Only 30 percent of family businesses survive into a second generation, and only 17 percent into a third,” says Kathyann Kessler Overbeke, principal of GPS: Generation Planning Strategies, Beachwood, OH.
Why? Too often the emotions of f