Conflict is inevitable in every successful business. There are always competing priorities, limited resources and tough decisions to be made. Successful family business families communicate this reality to the extended family so as to head off the disappointment before it even happens. Tough decisions need to be made for the family business to be successful […]
What conflict feels like for the family business father
Life’s gone full circle. It seemed like yesterday I was on the wrong end of some tough decisions from Uncle Walsh during my family business career. All of a sudden, I am the boss and having to dole out difficult decisions with my children in my business. Life’s funny that way. The good news is, […]
Good example of how conflict is good for the family business
I found out early in my family business career that conflict was inherent in the family business experience. I was a young salesman working at Walsh Bros when Uncle Walsh called me into his office and informed me he was splitting my sales territory! I was crushed! I couldn’t imagine why he was making a […]
Consistent culture of accountability needed for cousins entering the family business
With every new generation entering the family business there is increased risk of inconsistent performance and skills that can doom family business longevity. The best strategy to avoid this risk is to create clear and measurable standards of performance for the next generation. That needs to start sooner for most families. The most successful families […]
Inconsistent accountability causes frustration among family business siblings
One of the most common patterns we find when working with family businesses is an inconsistent standard of accountability among siblings. Some siblings push hard to produce high levels of results and other siblings live on their birthright as a safe excuse for mediocre performance. Most families are terrified of the consequences of shining a […]
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