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When there's trouble at the family mill, call in the CEO

That is, the Chief Emotional Officer, who can manage the emotional dimension and has to be a family business member.

In the US, big names like Walmart (above), Target and Ford owe their origins to family enterprise. In Australia, one out of every 10 family-owned companies has a turnover of more than A$50 million a year.

TWO of your fellow-shareholders in the family business are fighting over strategy. They're your cousins, and their dispute threatens the firm's commercial prospects. It's a common enough situation and if left to fester it can turn to disaster. What can you do? Call in the CEO.

No, not the