Having worked with family businesses all over the country in a variety of industries and company sizes, I’ve had the privilege to see some of the best practices and worst practices of family businesses. Best practice— paying family members based upon contribution and market scale. Worst practice— paying family members equally to avoid conflict & […]
Family Business Coach’s Tough Love – The family should consider selling the business
As a family business coach and family business consultant, it is my job to provide courageous, objective feedback. When talking about family business succession one road the family needs to consider is selling the business. Most families have difficulty discussing selling the business for a variety of reasons: the business becomes like the “favorite son […]
Family Business Deliberate Practice of the Week – Speak Without Emotion
If you’ve ever worked in the family business you know how it can become a highly emotionally charged environment! In business coaching we say that emotions are “information” that need to be addressed. In other words emotions should not be ignored. Having said that, I recently reread unbeatable: Re-create Your Life as Extraordinary Using the […]
Family Business Coach’s Tough Love – Sick of feeling like a laborer down at your family business?
Labor Day reminds us of all of the poor SOB’s (sons/daughters of bosses) who feel overworked and under appreciated and under paid. They are like the laborers who would like a little recognition or a day off this Labor Day. Forget about it. It ain’t gonna happen! If you want to be appreciated and honored, […]
Family Business Landmine: Unhappy In-laws
There’s no more potent and explosive #familyconflict than the conflict that involves the in-laws in the family business! The in-laws usually don’t own any of the legal stock in the business but many times they own the even more important– emotional stock! When I was young and climbing my way up the ladder at Walsh […]
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