Periodically, all family businesses need to make an objective evaluation of their key financial metrics and the person who is responsible for them. Typically, a controller's responsibilities with a family owned business cannot be found in any textbook.
Financial control generally follows one of the following paths:
1. Back off—"It's my company and my checkbook."
2. Honey Do or Gene Pool—"Who else can you trust?"
3. Undersized—"Just give my accountant the shoeboxes."