When Your Parents Sign the Paychecks: Finding Career Success Inside Or Outside the Family Business

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JIST Works, 2007 - Business & Economics - 256 pages
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When your parents own the family business, your career decisions hit close to home. This new resource is the only book written for young people who must decide if they want a career in their family's business. The author guides them through the challenges, opportunities, and risks that are never addressed in school and sometimes not openly discussed in the family. It explains that young people in these families need to take charge of their own career paths, avoid entitlement, and earn respect and credibility--whether inside or outside the company. Instead of being seduced into not working hard or joining the family business by default, the next generation learns the steps for professional success. These steps show all family business offspring how to find career direction, create an education and career plan, develop marketability, face their family's expectations, preserve relationships, get objective mentors, and handle wealth and power. Based on years of experience at the best family business college program, the guide contains examples and proven advice to help young people take ownership of their future before deciding whether to join the family business and eventually take ownership of the company.U.S. family businesses employ half the workforce in the country, constitute 90 percent of businesses, and are creating most new jobs. But 70 percent of family businesses fail to survive to the next generation. Research shows that this failure rate in large part is because the next generation is not adequately prepared for their futures. More than one-third of all college students' families owns a business, says author Greg McCann, director of Stetson University's Family Business Center, which has the nation's best academic major on the topic.

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About the author (2007)

McCann is the coauthor or editor of numerous books and journal articles. As one of the leading speakers and scholars in the field, McCann is often sought by the media as an expert source for articles on family business-related topics. McCann grew up working in his family buisness, held several positions at other companies, and is both a CPA and a lawyer. He lives in Deland, FL.

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