Trapped in the Family Business with Dr. Michael Klein(Ep. 7)

If you’re an entrepreneur, you know what it means to take personal and financial risks, create jobs that support your community, and devote most of your time to your business. But do you know how to plan for a successful exit from your business? Do you know who should be involved in creating your succession or transition plan and the steps to take along the way? Welcome to Finish Big—The Podcast with Mark Dorman from Legacy Business Advisors. The podcast theme is inspired by critically acclaimed business Author Bo Burlingham, author of “Finish Big: How Great Entrepreneurs Exit Their Companies on Top.” In this podcast, you’ll hear success stories of exit plans done right and pick up practical tips based on years of Legacy Business Advisors’ expertise and knowledge about the largest and most important financial transaction of your life.

In this episode, Mark Dorman speaks with Dr. Michael Klein, President of MK Insights and author of Trapped in the Family Business, on how multigenerational businesses trap family members with the expectation of joining the family business.