Each generation embraces, refines, and transforms a family business. Sometimes this cycle can be continuous, but more likely it is fraught with “interruptions.” In his new book, Interrupted Entrepreneurship, author and multigenerational family business owner, Ramez A. Baasiri, discusses generational interruptions and how to address them. According to Mr. Baasiri, an ‘interruption’ is anything that causes a break in continuity. An interruption need not impair the success of a family business, however, so long as it is dealt with properly. Change is inevitable and thus interruptions uncontrollable, therefore every family business should be prepared to embrace such periods of transition.
In his book, Mr. Baasiri intertwines his own personal experience in family businesses with the experiences of many other notable family businesses to educate others on how to deal with “interruptions.” In future posts, we will be exploring some of the themes and lessons from Mr. Baasiri’s work.
Interrupted Entrepreneurship is available now.
Drew Steen is a business transactions attorney at Davis Wright Tremaine LLP. He represents both buy-side and sell-side clients in mergers and acquisitions, venture capital investments, joint ventures, equity co-investments and restructurings. He also serves as regular corporate counsel for several closely held and family-owned companies. Drew can be reached via email at andrewsteen@dwt.com or directly at 206.757.8081.