Six traits of successful businesses

 Resize text         Printer-friendly version of this article Printer-friendly version of this article
Danny Klinefelter, agricultural economist at Texas A&M University, identifies these six qualities of successful family-owned or closely-held businesses:

1. Shared vision, values and goals and a well-formed strategic plan.

2. Clear procedures and expectations regarding employment of family members in the business.

3. Participation by outside advisors, board members and managers.

4. Guidelines and a plan for management succession and business continuity.

5. Open communication and methods for resolving conflicts.

6. Ability to spend time and have fun outside of the business.


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Moisture Tracker™

The Moisture Tracker is a hand-held, Near-Infra-Red (NIR) scanning device, which rapidly measures the dry matter and moisture content of ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Leads to Insight