Consulting Conversations: Common Closely-held Business Issues

Author:Hank Harris
Publish Date: Sep 01, 2021 05:53 PM EDT

Black bear playing in a rock pool

What are some of the common issues you see in closely-held companies?

Find out in the latest installment of Consulting Conversations from our Director of Consulting Hank Harris. Watch it now!

I would say that that a big challenge in any closely held business is that we get close to our problems. And, it can be really, really hard sometimes to look at your business objectively and to actually look at the problems objectively. I think it could be --as the old saying: it's lonely at the top. 

Sometimes if you're the single owner of a privately held business you don't have necessarily the same access to resources to sounding boards to outside information that say a public CEO would have.

I think the other thing that can be challenging for a closely held company is that partner relationship. And, if you have family in the business that introduces a whole other potential avenue of challenge, but all those personal relationships sometimes it can get to crossroads can get to things that are difficult for the parties to work out, and sometimes consultants can be helpful to those things.

I would 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.

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