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Anwar Faisal: Why Family Businesses Must Prepare Heirs Early

Anwar Faisal, Boston real estate entrepreneur, shares why family businesses must prepare the next generation early. Learn his advice on succession, leadership, and growth.

This news matters because family businesses are the backbone of many economies, yet a majority fail to survive into the second generation. Faisal's insights offer a practical roadmap for avoiding that fate: start early, build experience before titles, and separate family dynamics from business decisions. As Baby Boomers retire and trillions in assets change hands, the stakes are enormous. Faisal's own journey—from a single Boston apartment to thousands of units through Alpha Management Corporation—demonstrates that long-term success depends on deliberate preparation. His advice can help business owners protect their legacy, preserve jobs, and ensure that what they built continues to grow beyond their tenure.