Dr. Michael Klein has over 20 years of experience as an advisor to family business owners and next generations, as an assessment specialist (including assessments of job fit, personality, emotional intelligence, and values and motivators), he also speaks and leads workshops for family businesses. He uses his background in psychology to counsel and assist family businesses.

Michael has worked both internally and externally in Fortune 500 companies, including positions in organizational development and human resources. He has experience in healthcare, financial services, publishing, entertainment, pharmaceuticals, construction, and private equity and other industries.

He is the author of Trapped in the Family Business: A Practical Guide, which is in its second edition, and is a recipient of the 2018 Schultz Award for Outstanding Family Business Publication.

Michael is a graduate of Haverford College and holds a doctorate in psychology from the Graduate School of Applied and Professional Psychology, Rutgers. He has taught at the Commonwealth Honors College and Isenberg School of Business at the University of Massachusetts at Amherst and has served as a four-time judge at the University of Vermont’s Family Enterprise Case Competition (FECC).

In this episode of Family Business Today, Michael will share:

· How common it is for family members of different generations to feel trapped in their family business

· What it means to be trapped in your family business and how people become trapped

· That his book is not only about “escaping” from the family business but about how to have difficult conversations while maintaining relationships

· How parents and children can balance their needs with the needs of the family business

· The importance of having the tough conversations about your place in the family business even when the issues seem small

· And more…

To learn more about Michael’s book and his work with family businesses, visit www.trappedinthefamilybusiness.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 42: Cultivating a 100-Year Family Enterprise with Aggie Johnson of WillKate Family Enterprise

Family Business TodayBy Greg LewisMay 03, 2021