In the family business world, issues tend to be divided into those requiring âhard sideâ expertise (such as investing, tax planning and legal compliance) and those necessitating âsoft sideâ competencies (like family meeting facilitation, leadership coaching and conflict resolution).
In an environment where love and money intersect on a daily basis, this dichotomy is unhelpful. For example, financial issues must be explained in a way that family members will understand, and family values around inclusiveness determine who may own shares in the business.