Having worked with family businesses all over the country in a variety of industries and company sizes, I’ve had the privilege to see some of the best practices and worst practices of family businesses. Best practice— paying family members based upon contribution and market scale. Worst practice— paying family members equally to avoid conflict & […]
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.
Family Business Landmine: Family business conflict leads to family members being estranged forever
Why do we have to become estranged with family members? Why can’t we just agree to disagree yet still get along? It’s pretty amazing to me how families cut ties from one another as a result of an event or series of events. Human beings can be stubborn individuals. People get stuck in their corner, […]
This one tool will relieve tension in family business conflict
Family business conflict creates tension and stress not only in the workplace, but at home and during the holiday gatherings. I know firsthand after working 16 years in my family business. For most people conflict brings up an automatic reaction of defensiveness and justifying their position. Taking a defensive posture is counterproductive to solving conflict. […]
Family Business Coach’s Tough Love – The family should consider selling the business
As a family business coach and family business consultant, it is my job to provide courageous, objective feedback. When talking about family business succession one road the family needs to consider is selling the business. Most families have difficulty discussing selling the business for a variety of reasons: the business becomes like the “favorite son […]
Family Business Landmine – Next gen not attending or finishing college
Sneaks up quick Want strong productive kids Problem – are they best equipped Future roles and compensation Employment policy What happens when a member of the next generation decides to quit college and come to work for the family business? In most cases the family reluctantly gives in and the family member begins working […]
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