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 Landmine: Family business conflict leads to family members being estranged forever
Why do we have to become estranged with family members? Why can’t we just agree to disagree yet still get along? It’s pretty amazing to me how families cut ties from one another as a result of an event or series of events. Human beings can be stubborn individuals. People get stuck in their corner, […]
Deliberate Practice of the Week – Forgive Someone
Forgiving someone is a gift you give to yourself. You give it to yourself so you will let go of the energy it takes to stay mad at someone and free that energy to be used on something more productive. I know the pain and anger firsthand of being mistreated or worse, abused. It’s easy […]
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 […]
Deliberate Practice of the Week – Why you need to go back to school like your kids do each fall
Top business professionals are continually looking for ways to improve their skills and business performance. Some family business families seem to want to rest on their reputation and past performance. Resting on reputation and history will most likely lead to the slow extinction of your business. This week think about a new class you might […]
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