A difficult challenge for many agenda's in family business boardrooms around the world, especially if the business has successfully passed down through a number of generations. This can place the current generation under increasing pressure to succeed, maintain the family ownership and strive to pass it on to the next generation.
There will come a point in time that a difficult decision for the family will come to the fore, when it may well be time to consider a sale. The burden of responsibility on the generation making the decision to sell can be enormous but there is also a need to balance this with a responsibility to make the right decision, and selling the business may well be the right thing to do. It is not easy and never will be but preserving the wealth and investing in the future outside of the family business may well be the best solution all round.
One thing is for sure, it needs to be a topic for discussion at some point and should never be ignored.
It is neither preordained nor inevitable that a business remain competitive and in the family. This typically requires enormous effort and, oftentimes, deep personal sacrifice. So perhaps the most difficult and painful question facing leaders of a family-controlled enterprise is whether or not to sell that business.