How to Protect the Legacy of a Family Owned Business | 803

"You're not just building income — you're building impact that outlasts you." What You’ll Discover Today In this episode, Dave Lorenzo shares three essential strategies for family business owners who want to create generational wealth and leave a lasting legacy. These practical steps help ensure your business continues to thrive long after you're gone, whether it's passed to the next generation or sold for maximum value. Key Topics DiscussedWhy Legacy Matters A family business isn't just about today's income — it's about building something that lasts for generations.Step 1: Build a Leadership Bench The business must run on systems, not personalities. From frontline employees to executives, everyone needs to understand the mission and culture.Step 2: Treat the Business Like an Investment Replace yourself. Your business should generate passive income, not depend on your daily involvement.Step 3: Professionalize Governance Formal boards, family councils, and decision-making processes turn informal operations into scalable, transferable enterprises. Links and ResourcesSubscribe via Email: GetInsideBS.comListen on Spotify: Inside BS Show on SpotifyListen on Apple Podcasts: Inside BS Show on Apple PodcastsCall Us: (305) 692-5531 Call to Action If this episode gave you value, share it with another family business owner. Forward the link, send a text, or email the episode. Help someone else secure their legacy.