Just as there are unique problems in publicly-held firms, there are also challenges unique to family-owned and operated businesses.

All companies have strengths, but the secret to both profitability and perpetuation is a willingness to step up to the plate and deal with each business and family issue in a professional manner.

As I write this article, I’m using my experiences as a consultant to family-owned businesses as well as information I have been taught in family business seminars and workshops that I’ve attended over the years. My purpose is twofold:

• The first is to bring these “deadly sins” to