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 […]
Challenges of Family Business
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 […]
Challenges of a family business: Work/Life Balance
As a family business coach, on occasion I find it helpful to remind my clients to remember work/life balance. This is one of the challenges of a family business. My advice to them is “It’s a game; don’t let it affect your personal or your families’ well- being.” When managing a family business, it can […]
Family Business Success … It’s About People
Working in a family business is by nature interdependent. It is the result of multiple interactions between multiple family members every day. Each family member has a vested interest in the success of your organization and your products and services. This situation alone is one of the challenges of family business. Family members come in […]
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