In this installment of Consulting Conversations, Hank Harris shares his insights. Who's going to win: the company with the wrong culture for the market or the market? It's an old saying that in a fight between you and the world, you should put your bet on the world. The market will win that fight, and that's a great example of where consultants are sometimes brought in because the company's culture does have to change. If it doesn't change, they won't be able to adapt, and they won't be able to penetrate. It's really that simple. We'd love to hear from any private business hunt owner in North Carolina that thinks we could be of some help to them in understanding how their business gets better or where it might go in the future.

When the time comes to start thinking about the next generation of ownership and management, the children of the founder are often a natural prospect for both. However, most parents with more than one child marvel at how different they can all turn out! All were raised in the same home and in the same general way, yet personalities, opportunities, and interests vary widely as they matriculate into adulthood.This natural phenomenon frequently presents business owners with somewhat of a dilemma; i.e., how do I treat my children – who I love equally – with respect to the business and its long-term continuity? This is an example of where advanced succession planning can make all the difference in the world, to the business, and all the people involved. Yet, for lack of planning and thinking things through, many business owners will have 100% of the business wind up in their estate, along with their other assets, to be disbursed equally to their heirs. In most cases, a very dubious decis...