Legacy Traps Book

ALEJANDRO CÁRDENAS VILLA

What are the three main fears of family business owners?

Top 10 failed solutions when attempting to address the three fears above:

1. Not involving family members in the business.

2. Providing the best education to children.

3. Selling the business.

4. Setting up a governance structure.

5. Appointing independent board members.

6. Delaying their retirement and centralizing decisions.

7. Developing a succession plan.

8. Having a family constitution.

9. Hiring a non-family, professional CEO.

10. Ignoring problems or expecting children to resolve them (eventually).

Legacy Traps provides proven solutions to protect your family from fractur and your business from failure.

Aviation became one of the safest industries in the world not by studying success, but by studying accidents. Every failure—however rare—was analyzed so future flights could be safer.

Alejandro approaches family business failures in the same way, uncovering the traps that must be avoided to protect family bonds and to make businesses stronger and more stable.

Legacy Traps offers universal lessons about human behavior and decision-making that shape every family’s future.

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Protect your family from fracture and your business from failure

Learn to achieve both

What are the three main fears of family business owners?

1. That wealth fractures the family

That wealth, which is supposed to provide wellbeing to the family, becomes a source of conflict.

2. That the family damages the business

That the family - either because of conflict, lifestyle, or poor decisions - damages the business and destroys the wealth created.

3. That they are caught in the middle

That individuals have to endure the discomfort of making painful decisions, either choosing between family members, or between the needs of the family and those of the business.

Top 10 failed solutions when attempting to address the three fears above:

1. Not involving family members in the business.

2. Providing the best education to children.

3. Selling the business.

4. Setting up a governance structure.

5. Appointing independent board members.

6. Delaying their retirement and centralizing decisions.

7. Developing a succession plan.

8. Having a family constitution.

9. Hiring a non-family, professional CEO.

10. Ignoring problems or expecting children to resolve them (eventually).

Legacy Traps provides proven solutions to protect your family from fractur and your business from failure.

Protect your family from fracture and your business from failure

Learn to achieve both

​What are the three main fears of family business owners?

1. That wealth fractures the family

That wealth, which is supposed to provide wellbeing to the family, becomes a source of conflict.

2. That the family damages the business

That the family - either because of conflict, lifestyle, or poor decisions - damages the business and destroys the wealth created.

3. That they are caught in the middle

That individuals have to endure the discomfort of making painful decisions, either choosing between family members, or between the needs of the family and those of the business.

Top 10 failed solutions when attempting to address the three fears above:​

1. Not involving family members in the business.

2. Providing the best education to children.

3. Selling the business.

4. Setting up a governance structure.

5. Appointing independent board members.

6. Delaying their retirement and centralizing decisions.

7. Developing a succession plan.

8. Having a family constitution.

9. Hiring a non-family, professional CEO.

10. Ignoring problems or expecting children to resolve them (eventually).

Legacy Traps provides proven solutions to protect your family from fractur and your business from failure.

What are the three main fears of family business owners?

Top 10 failed solutions when attempting to address the three fears above: