Harvard Business School of Economics, together with Columbia University's Business School, studied the work ethic of the CEOs of family-owned businesses. The results found that family CEOs worked 8% fewer hours than execs without “genetic” connections.
No way, I take exception! Once-upon-a-time, I worked for a mega-sized family-owned real estate business, and the family CEO trumped the intensity, commitment and time on the job of any previous experience I had with CEOs in the public sector.
More recently, I had the opportunity to become an entrepreneurial CEO, and I've never worked harder. The Harvard and Columbia study is interesting, but is misses a critical factor . . . skin in the game.
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