I compare family businesses to professional sports teams often. I believe business is a competitive sport and there are many parallels we can learn between professional sports and professional business. Sports has shown us many great dynasties over the years with teams that have had decade-long success. Rarely does that success become repeatable over several […]
Struggling with Professionalism in Your Family Business?
If you want your family business to succeed and win in the long run, at some point it needs to embrace professionalism. A business has a life cycle like a person. It’s a toddler (learning to walk), a teenager (a bit rebellious), and a young adult (more stable). We all know people that never grew […]
3 Tips for Managing Family Business Succession
Succession may be one of the most critical times in the life cycle of a family business. Thoughtful business owners realize they have a responsibility to the employees and stakeholders of the business and their family to make sure they do succession planning right. Most business founders and entrepreneurs have a high level of confidence […]
Need to Talk About Your Family Business – Try These Tools
Ever wonder how a great musician learns to play at such a high level of expertise? Practice! I’ve watched several interviews and documentaries about some of the world’s greatest performers. Each and every one of them has an unrelenting passion for practicing their craft. In a family business, if you are going to perform at […]
How to Manage Family Business Fighting and Resolve Conflicts
I’ve been joking for sometime saying that family business reminds me a lot of a hockey game. A fight breaks out almost every time. Conflict breaks out in most family businesses. Yet, the truth is, conflict happens in just about every business. One of the important things we teach our family business clients, is that […]
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