Paying your brother what he is actually worth
Two brothers run a Muscat trading company and have paid themselves equally for fifteen years, although one works twice the hours. Rami and an accountant untangle fairness from equality.
The succession conversation nobody wants to start
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Show notes
The succession conversation nobody wants to start
A father and daughter who run a chain of bakeries in Beirut have worked side by side for eleven years and never once discussed succession. Rami and a family business advisor help them begin, gently, with the recorder running.
- Why founders avoid the topic, and why it is rarely about ego
- The difference between ownership, management and the family name
- Starting with timelines instead of titles
- What the daughter had assumed, and what the father had assumed
- Writing it down before the next family lunch
If this episode sounds like your family, the advisor's starter questions are on the show page.
Transcript
Ahlan, welcome to Dad Still Signs the Cheques. I am Rami Haddad, third generation in a food business in Amman, and yes, my father still signs some of the cheques. Today's episode is one I have wanted to make since we started, because it is the conversation almost every family business avoids. Who takes over, and when. I am sitting with a father and daughter who run a group of bakeries in Beirut. They have worked together for eleven years. They have never discussed succession. Not once. We have a family business advisor with us, and with everyone's permission, we are going to start that conversation right here. It gets emotional. It also gets practical, because by the end they have a timeline on paper. If you are the next generation, or the first, this one is for you. You are listening on Witspeak Podcasts.
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