Did you know that Walmart, Illy Coffee, and Estée Lauder are all family businesses?
In the United States, “family owned” is spoken with pride and considered a cornerstone of the economy. In other parts of the world, the words “family” and “business” are synonymous. If a mother and father run a corner store, you can bet their children will be working as cashiers or stocking shelves at some point in their lives. Yet as those children’s stakes in the business increase, they may want to expand the business or explore entirely different ventures to invest in.
Cornell lecturers and researchers Daniel Van Der Vliet and Wesley Sine advise successful entrepreneurs and family businesses the world over. In this fast-paced discussion, we’ll look at everything from starting a family business to how the next generations might think about utilizing profits to invest in different ventures.
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