It’s really quite amazing how much bad behavior is tolerated in well run family businesses. Most families know the behavior is damaging to both the business and the family yet they lack the needed skills to stop the behaviors. When families proactively engage in skill building they can develop the skills necessary to head the […]
What NOT to do in Family Business
Knowing what not to do in your family business is as important as knowing what to do. Learn the mistakes others have made and how to avoid them in your family-run company.
Most business families we work with have a common and solvable problem – poor communication habits that have been ingrained in the family over a long period of time. These poor communication habits lead to: misunderstandings avoiding conflict inability to problem solve together unclear vision and focus for the family What happens next amazes me. […]
The best way to avoid potential inter family conflict is to get the next generation engaged in family business discussions at an early age. Most of the families I talk to are concerned about making sure the next gen understands and appreciates the values and work ethic it has taken to make the family business […]
I see too many families that put off having a family meeting for any number of reasons. It’s difficult to coordinate everyone’s calendar. They’re not sure exactly how to conduct the meeting. They’re afraid they’ll get questions they don’t want to discuss. What I’ve seen when families take the time to hold a family meeting […]