Why Family Businesses Must Foster Non-Family Talent

Winning in business today is mostly about the talent in your company. To have a high-performing company, you need exceptional talent. You need to be able to recruit, develop, motivate and keep great people. Factors leading to good company performance, such as being able to spot and develop the right opportunities for your company, manage key stakeholder relationships, keep up with technological change all depend on having the right talent, and especially depends on the quality of your management team. If you are not working on building a highly capable management team, including great non-family managers, you might not be able to grow your company or even keep it going.