Subscribe to Entrepreneur for $5

7 Lessons in Harmony for Family Startups

This story appears in the March 2014 issue of Entrepreneur. Subscribe »

Brothers Gerald and Carl Huber needed a succession plan. Together they owned an agricultural business in southern Indiana that had been in their family for five generations, since the mid-19th century. And they were not getting any younger.

Problem was, Gerald and Carl each had four children, and the brothers did not believe the business could support them all. They resolved to anoint one child from each family to succeed them. It was a judgment that might have given Solomon fits, and a dilemma that illustrates the thorny issues that inevitably arise within every family business.

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!

Get 3 months free with code ZENDESK

Presented by zendesk

Get 3 months free with code