Rob Sobey says his grandfather impressed upon him a profound lesson looking at a family farm during a country drive.

At an event held by the Canadian Association of Family Enterprises that I attended, Rob explained how years ago his grandfather was driving him through the countryside and suddenly stopped the car. He asked him to describe what he saw. The young Rob started to point out the large stretch of farm land with a barn and then, further away, the farmhouse.

"Go on," his grandfather said. "Describe the barn and farmhouse in detail." The barn was spectacular, while the farm house, in comparison, was solid, but not at the same level as the barn. "There is a family who will benefit from the well-run farm."’

The lesson that Rob’s grandfather wished to convey is something often overlooked by family enterprises: If you look after the business, it will look after the family.

Family business owners too often run their company under the thought that the business serves themselves. But the long-term success of a business depends on more - namely, the overall well-being of the family and how they will continue to run the business into the future.

Read the full article on the Globe & Mail: https://www.theglobeandmail.com/report-on-business/small-business/sb-managing/family-business-transfers-wealth-to-the-next-generation/article24726493/