Joining the family business can be an easy way to start a career. But is it the career you want? And how can you explore new opportunities within the singular business? 

In this episode, Mark Dorman speaks with Dr. Michael Klein, President of MK Insights and author of Trapped in the Family Business, on how multigenerational businesses trap family members with the expectation of joining the family business.

Dr. Michael unpacks: 

• How do family members become trapped in the family business
  
• What influence family members have on the next generation’s career path
  
• Why previous generations need to take a step back from controlling the business
  
• What current businesses are doing to provide future generations an opportunity for personal growth within and outside of the business
  
• And more
  

Resources:

• Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham
  
• Trapped in the Family Business by Michael A Klein, PsyD
  

Connect with Mark Dorman: 

• LinkedIn: Mark Dorman
  
• Legacy Business Advisors
  
• Call: (330) 350-5410
  
• Email Mark: mdorman@dla-team.com
  
• LinkedIn: Legacy Business Advisors
  
• Facebook: Legacy Business Advisors
  

Connect with Dr. Michael Klein:

• LinkedIn: Dr. Michael Klein
  
• Dr. Michael Klein’s Website
  

About our Guest:

Dr. Michael Klein has been a workplace consultant and advisor to individuals and organizations for over 20 years. He has worked with privately and publicly held businesses in industries including pharmaceuticals, insurance, entertainment, banking, construction, logistics, education, forestry, retail, publishing, hospitality, manufacturing, and healthcare. 

Michael has held positions in Organizational Development, Human Resources, and served as a Director of Advisor Training & Development at MassMutual Financial Group. Dr. Klein published “Trapped in the Family Business,” to assist individual family members in understanding, managing and taking control of their professional and personal lives when other family members are involved. He also has created and managed development processes for executives, sales leaders and other professionals.