If your family business is growing, it will have a tendency to continue to grow because you’re doing things right. Conversely, a family business that is going backwards or shrinking has a tendency to continue to go backwards or shrink until acted upon by an outside force. All responsible family business managers know that unless […]
Family Business Articles, Tips and Advice
Family businesses have unique characteristics that can either drive success or create discord. Our goal is to help every family-owned company get on, and stay on the path to success.
Developing Leaders: The New Age of Family Business Management
A substantial number of family-owned businesses do not have a clear plan for succession when the founder is ready to retire. Up to 42 percent of family-owned businesses have not chosen a successor for when the patriarch or matriarch leaves the business. Often this is because the family leadership perceives the next generation as unready, […]
Family Business Team Building – What Is It?
Simply put, a team is “a group of people working towards a common goal.” “A family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family.” (INC.) Therefore, Family Business Team Building is a process that enables a […]
Next Generation Planning in Family Business
As the patriarch or matriarch of your family business, you are probably already managing other family members from Generation X (born between 1963 and 1980) and Generation Y (born after 1980). The differences between our generation and the new generations must be considered in current family business management and next generation planning. Key topics for […]
Weekend Reads – Coach Pete says “Let’s teach your family how to talk straight.”
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 […]
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