Wealth of Wisdom Podcast - Episode 36
Doug Baumoel – Should You Stay Together as a Family or Go Your Separate Ways?
When should a family call it quits and go their separate ways? How can a family even think about this painful question? In this podcast, Keith Whitaker speaks with family business consultant Doug Baumoel about these fundamental questions, ones that, from time to time, any family that is managing a business or wealth together have to face. Doug reviews the concept of the ‘family factor,’ which measures a family’s ability to navigate change together, based on shared history, shared vision, and trust. He also talks about ways to raise, in a productive manner, the question of whether to stay together or not, and he shares examples in which families actually found ways to separate without mutually-assured destruction.