Change is difficult. We’re creatures of habit. Especially in a family business where the business has enjoyed a high level of success for many years. Unfortunately past success isn’t a predictor of future success. In fact we know the statistics that only one out of three family businesses will make it successfully into the next generation. For family […]
Coach Pete describes the best plays he finds in the family business world. Edition 1. A dose of business coaching from Family Business Performance Center.
One of the most common challenges of family business is to create a succession planning process that enables siblings to compete for positions based upon business acumen and business results. I can’t tell you how many times I’ve arrived in a family business and find the oldest sibling sitting at the head of the table […]
Maintaining harmonious employee relations, planning for the future, and instituting leadership development programs are a vital part of any successful business plan. When the employees are related, however, and the pool of future leaders share names and relationships, transitioning to a new structure may be difficult. Rivalry can exist between “shirt-tail relatives” just as easily as between […]
There are several types of family business employees who create animosity or difficulty within the workplace. There are a few types that are found in every company, from those who wish to always be in control to those that are just downright unpleasant. Within a family business, however, the relationships between employees is even more complex. […]