– By Dr Nupur Pavan Bang
Behind the dazzling success of family businesses lies an often-untold story—the story of tangled emotions, power struggles, and fractured relationships. While these enterprises drive economies and legacies, they can also unravel spectacularly when trust erodes and clarity falters. The recent Kalyani family feud reminds us that even the most illustrious dynasties are vulnerable to internal discord. It’s a cinematic tale of ambition and inheritance, but unlike Bollywood, there’s no guaranteed happy ending. Here’s what today’s family businesses must learn if they wish to avoid their own Shakespearean tragedy.
Simplify Ownership: Don’t Let Shares Become Shackles
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If assets and shares are the kingdom, let there be no pretenders to the throne. Clearly defined ownership structures and a single, ironclad will are non-negotiable. The will’s existence, location, and witnesses must be transparent, even if its contents remain confidential. Think of it as writing the script to avoid future drama—the kind where the climax unfolds in courtrooms rather than boardrooms.
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Professionalize the Company: Let Business, Not Battles, Define You
A family business must be a fortress, impervious to emotional storms. By bringing in non-family executives, independent directors, implementing strong governance, and creating a culture of accountability, the business can weather any familial discord. Think of this as hiring the best defense—not just for the company, but for the family’s dignity. After all, the world respects businesses that rise above personal feuds.
Don’t Pass Down the Baggage: Leave a Legacy, Not a Mess
The scars of one generation’s disputes can become the chains that bind the next. Messy inheritances and unresolved tensions drive away the very heirs who could lead the company into its future. Don’t make your children the custodians of your unfinished battles. If clarity eludes you, seek counsel from those who can guide you—before it’s too late.
Build Bonds Before Businesses: Family First, Always
What is a business empire worth if its architects are estranged?
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