Can Business Coaching for Family Businesses Turn Them into Competitive Powerhouses?
Family businesses are the backbone of India’s fast-growing $4.3 trillion economy. With over 80% of Indian businesses being family-owned and contributing nearly 79% to the national GDP, their impact should never be understated. So why are we talking about Business Coaching for family Businesses ? Well, despite their dominance, a significant number of family-owned enterprises struggle to break through the structural and cultural constraints to achieve their true potential, and the solution to their struggles lies in tailored one-to-one Business Coaching for family Businesses. Let’s take a look at some data. According to studies, the proportion of underperforming family businesses increases with each generation – from 33% in the first, to 43% in the second, and 46% by the third generation. The reasons for this are all too familiar: lack of succession planning, blurred lines between family and business...