John was given a leadership and managerial role in his family’s business. He was happy to step into this position, but there was a problem. John lacked confidence in his own ability and leadership skills. Because of this, he frequently sought validation and reassurance from the family business patriarch who was his uncle. But Uncle […]
Do you have family members of your business team who does extremely well fulfilling their role in the family business? Do you think they are ready to advance and take on a larger role? They may be but as the family business leader, you need to help them discover and develop their strengths. Your role […]
You may be surprised to hear that most people don’t equate job satisfaction with financial reward. In fact, they say that job satisfaction for them is feeling like they are a valued part of a team. Family business leaders should acknowledge their team members for the quality of their work and their contributions to the […]
In family business, having a succession plan and transferring your role as family business manager to the next generation isn’t easy and can be a lengthy process. Because of this, it is critical to prepare for succession by having a plan in place well before you need it. If possible, you should make your succession […]
Managing a family businesses is an important skill the family business leader should learn. Here are some common problems and how to deal with them.