Every Family's Business: 12 Common Sense Questions to Protect Your Wealth by Dr. Tom Deans

Guest Contributor: Peter J. Merrick, TEP

Website: EXIT WITH SUCCESS - EXPERT IN CROSS-BORDER RISK

Every Family's Business: 12 Common Sense Questions to Protect Your Wealth by Dr.Thomas Deans is a must-read for anyone involved in a family business. This book stands out as one of the best on family business succession planning, offering practical advice through 12 essential questions families should consider before transitioning out of their businesses.

I met Dr. Tom Deans in 2008, right before his book was published. Our collaboration since then has significantly impacted my life and career. Dr. Deans draws from his own experience of successfully selling a multimillion-dollar family business, making his advice both practical and relatable. His message is clear: sell the business to save family relationships and wealth while passing on family values to future generations.

The book tells the story of two people who meet on a flight to Barbados, both involved in family businesses. They share their successes and failures, and one character reveals 12 questions that have been passed down through four generations. These questions guide their approach to succession planning and help families start thinking and talking about the future of their businesses.

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Dr. Dean's firsthand experience sets this book apart. He speaks with genuine excitement about helping others grow from their experiences. His advice is grounded in real-life situations, emphasizing planning with sound business principles, love, and mutual respect.

I was so impressed by Dr. Deans's book that I invited him to contribute to another project I was working on. He wrote a chapter for a book that included insights from 54 experts in law, tax, estate, succession, insurance, and investing. Dr. Deans addressed professionals aiming to become trusted advisors for business owners transitioning out of their businesses, providing invaluable insight.

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Dr. Deans is known for his generosity and willingness to give back. Over the years, I have seen him mentor hundreds and speak to thousands about business transition. He is always ready to listen and help in any way he can, which I deeply admire.

Every Family's Business is more than just a book; it’s a practical tool for protecting families' wealth and relationships. Dr. Deans provides a method for families to come together and plan their future. This book is essential for all business owners, aspiring entrepreneurs, and professionals.

I highly recommend this book. It should be on the bookshelves of every entrepreneur. Dr. Tom Deans' wisdom and practical advice make Every Family's Business an essential guide for family businesses.

Peter J. Merrick, TEP

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