We recently completed another Fundamentals of Family Business Success program with a family group…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 to talk straight […]
Challenges of Family Business
Is Your Family Business Infected with Bad Attitudes? Part 1
Is your brothers grudging acceptance of management decisions causing productivity to slow? Understanding the power of attitudes training in your small business could solve this problem. Let’s take a look back to the turn of the century. Employees learned to check their brains at the door if they wanted to advance at work. They were […]
Effective Communication in Family Business
I read an article recently about communication in family business. According to the article, family business managers spend almost half of their time on communication. Frankly, I was surprised the number was not closer to 90% if you take into account both direct and indirect communication. Positive, effective communication is the key to success in […]
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, […]
Conflict in the Family Business and The Role of Forgiveness
Conflict within any business can be troublesome, but in a family-run business, conflict can be downright crippling. On the other hand, healthy relationships in a family-run business can lead to greater long-term success. So, what differentiates family businesses that operate peacefully and without major conflict from those that run into conflict regularly? Having an effective […]
