I was deeply saddened last week when I heard of the sudden loss of the patriarch of a fifth-generation family business I have the honor to coach. At the same time, it warmed my heart to know I got to help create a venue for the patriarch to mentor and teach the grandchildren over the […]
Coach’s Tough Love – Family Business Siblings Must “Leave Ego at the Door” to Survive
Adult sibling rivalry is one of the most common and potentially devastating family business challenges a family can face. Listening to a brother last week describe the challenges he was facing with his younger brother, I was told, “I don’t know how to describe it – there’s just something between us and it’s getting in […]
The Future of Family Business Leaderships
American family businesses, both small and large, exist within a consistent realm of change. Within both family businesses and corporate companies, American businesses have to endure a stream of unpredictable changes, from losing employees and clients to gaining traction, obtaining new customers and adopting new missions. When goals have been the same for a while, […]
Family Biz Coach’s Tough love – Make Your Children Work Outside the Family Business!!
I was coaching a very successful entrepreneur last week, the head of a thriving 80 person firm. I asked him if it was part of his dream to have his children come work in the business. I was a little surprised yet appreciated his quick, frank answer. He said “Hell no! When I was in […]
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 […]
