Success Story

Enhanced family relationships

Situation

  • The company was a multi-generation family-owned business that included eight different business units and conducted business internationally.
  • Several of those business units were failing badly and putting the profitable businesses at risk.
  • Family relationships were strained because roles among family members were not clearly defined.
  • Renee was referred by the Company’s CPA.

Results

  • Renee, working as an outside consultant in this situation, developed a management control system for the troubled business units.
  • Acting upon Renee’s recommendations, the owners sold the unprofitable operations, and the family members divided the remaining business units into two separate entities, each owned by only one family.
  • Family relationships have continued on a positive basis.
  • Both entities are profitable today.