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 […]
Business Relationships and Family Team Building
How do you make your family business environment conducive to team building? In the past this was often overlooked in family business because, well it’s “just family” right? When it was deemed important enough to gain the attention of management, it was usually done with merit pay raises, employee of the month awards and other […]
Why Are Family Businesses Ignoring Succession Planning?
Family business thought leaders have had much to say about succession planning lately. Despite all the buzz, a study at Kent State University found that 80% of family businesses do not have a succession plan. Some commonly held misconceptions about succession may be a major contributing factor. Misconception #1: If there are no imminent retirements, […]
Weekend Reads: Coaches Roundup 8-7-15
Each week, Coach Pete seeks out strong players in the family business world in order to bring you real stories of real family business professionals to inspire, drive and lead you forward. From the stories of legacy builders to examples of outstanding succession planning, the star players Coach Pete comes across are navigating the game with confidence and wisdom. […]
The Future of Women & Family Business Leadership
A family business is as the phrase implies, a business that is operated by a family. Many times, people outside of the family will be hired to serve as helpful employees, but upper-level management and ownership usually stays within the family. Family-owned businesses have been successful for hundreds of years, and it’s safe to assume […]
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