William O'Hara's Basic Principles of Successful Family Businesses


  1. Having accountability with a great deal of trust, shared values, and keeping your word
  2. Involving women
  3. Passion and commitment
  4. Priority on the business; not the family putting the family first
  5. Shrewd, effective conflict management
  6. Establishing strategic plans, such as an estate plan and a succession plan.
  7. Establishing a system of governance having regular meetings, board of advisors, obtaining outside professional counsel, and representation for all family members