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Solving "Ego" Problems in Your Family Business

Don't let sparring egos tear the family business apart.

This story appears in the July 2000 issue of Entrepreneur. Subscribe »

Like the Mississippi River, a strong ego is a powerful resource-as long as it stays within its banks," says Edwin Hoover, a psychologist and family business consultant in Oak Brook, Illinois. "We routinely find that family members with superior capabilities and the strongest senses of who they are end up feeling the most invested in the family business."

"A person's ego speaks to their passion about what they do and how they want to bring the business into the future," adds Colette, Edwin's wife.

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