Selling a business to a child – do you need an independent view?

Are you objective when analysing your children’s skills. Are they able to run the business or do they just follow your instructions? How long have they worked in the business? Do they know all aspects or do they need more training? Do you need a third party assessment of their capability to see if they are ready today  or in the future if they need more training.

Remember, the first generation often can be successful, the second generation are ok, some make the company more successful then their parents. Unfortunately, there are many companies who do not survive the third generation, even fewer the fourth generation.