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 […]
Inconsistent accountability causes frustration among family business siblings
One of the most common patterns we find when working with family businesses is an inconsistent standard of accountability among siblings. Some siblings push hard to produce high levels of results and other siblings live on their birthright as a safe excuse for mediocre performance. Most families are terrified of the consequences of shining a […]
Lack of accountability can threaten a family business’ long-term success
The best run companies enjoying longevity and consistent success know accountability for results is a key component to the company’s culture. Many family businesses struggle with accountability because they try to manage family harmony alongside business results. Watch this short video to help guide your family while having the accountability conversation. Many founders find it […]
Think you’re ready to take over the family business? Put your money where your mouth is and get some 360° feedback!
I can’t tell you how many potential successors tell me they are ready to take over the family business today. But they’re not. I should know – I was one of them. You may have many of the necessary skills, all of the excitement, and passion but be lacking a few critical skills. At any […]
A quick way to calm a turf war in the family business – 360° feedback
Nothing can be more unsettling for family business owners than to see two family members butting heads about how things should be done. That kind of conflict left unattended can cause long-term irreparable damage to the family and the business. 360° feedback is a perfect tool to help people understand how they are perceived by […]
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