How to respond to my classmates Hailey post There are many different forces that keep a family business moving forward: being able to stay up to date on trends, unity, values, and the list goes on and on$.$Co$-$preneurs are couples who own and manage businesses. An example of this would be a husband and wife that run and manage their own businesses. However, sometimes co$-$preneurs don't always work out, and they might turn into a$$ a entrepreneur's partner. Ideally, the entrepreneur and their partner form a team committed to the success of both the family and the family business. It requires a good deal of teamwork and trust.Co$-$preneurs can also be or become parents. When or after starting a business, parents expect to pass the business on to their children. I can be hard for parents to understand why their child might not want to take over the business. In today's society freedom to choose is extremely important. Letting children choose what they want to do with their life can be difficult for parents to do$,$ but sometimes it the best option so that their children can learn and grow as an individual. However, in some cases both or all siblings want to take over the family business and its also difficult to choose who get the top spot. Sometimes parents have to choose one sibling over another due to having better qualifications then the other.After a parents child or children grow up and get married there are in$-$laws that can play a part in the family business. In$-$laws can become directly or indirectly involved in the family business. Either way, in$-$laws have considerable influence on the business and family. Family retreats is a meeting of family members that is usually held away from company premises to discuss family business matters. Family council is an organized group of family members who gather periodically to discuss family$-$related business issues. Family business constitution is a statement of principles intended to guide a family firm through times of crisis and change.$$Having talented, visionary leaders help companies survive long enough to face generational transition. However leadership that made a business successful at one time may not be right as the times change. Having new leaders that can adopt the new techniques and skills as the company grows, will help the company grow more as well. Sometimes owners have to bring outside leadership or supplement family talent to avoid a decline in the business.Preparing for succession is definitely important with any business, but especially with family owned businesses. The preparation can be done by the senior generation or the next generation.Paring for succession and transferring of ownership go hand in hand. The succession process process for a sustainable family firm eventually requires the transfer of ownership. Transferring ownership isn't a simple process. There's many steps, procedures, and changes that have to be taken into account.