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July-Aug 2015

Advisory boards can help family firms navigate pitfalls and mitigate risk

By Susan Stautberg, Edward Stautberg

To survive and thrive, family companies need new ideas and a fresh point of view. An advisory board can jump-start innovative thinking by infusing new perspectives into the family business. A council of diverse outside experts can show families how to overcome inherent vulnerabilities and to navigate the pitfalls that often plague family companies, such as sibling infighting and hidden agendas. To...

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