We just completed another Fundamentals of Family Business Success program with a family group this week…it’s so great to see families expand their business tool kit and have some real conversations about the family dynamics that can destroy a good business. As the coach, I provide real time live coaching to teach the family how […]
The Succession Planning Process in the Family Business
One of the leading family business challenges is the demand for leadership talent greatly exceeds supply. The “obvious” next in line to lead the family business may not be the best choice. In addition patriarchs often stay in their leadership positions well into their 70’s while the younger generation is trending toward earlier retirement. This […]
Managing A Family Business
It’s difficult to combine business and personal issues but a family business patriarch or matriarch is forced to deal with both at the same time. This presents a family business challenge when the family leader is pressured to perform according to the expectations of his family. He can be pressured to make decisions that are […]
Challenges of a family business: Work/Life Balance
As a family business coach, on occasion I find it helpful to remind my clients to remember work/life balance. This is one of the challenges of a family business. My advice to them is “It’s a game; don’t let it affect your personal or your families’ well- being.” When managing a family business, it can […]
Family Business Success … It’s About People
Working in a family business is by nature interdependent. It is the result of multiple interactions between multiple family members every day. Each family member has a vested interest in the success of your organization and your products and services. This situation alone is one of the challenges of family business. Family members come in […]
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