How do you make your family business environment conducive to team building? In the past this was often overlooked in family business because, well it’s “just family” right? When it was deemed important enough to gain the attention of management, it was usually done with merit pay raises, employee of the month awards and other […]
Why Are Family Businesses Ignoring Succession Planning?
Family business thought leaders have had much to say about succession planning lately. Despite all the buzz, a study at Kent State University found that 80% of family businesses do not have a succession plan. Some commonly held misconceptions about succession may be a major contributing factor. Misconception #1: If there are no imminent retirements, […]
Coaches Roundup — England, Goat Business, and Avoiding the IRS
We are putting the final touches on our new Family Business High Performance Coaching System. The system will include our top 20 exercises developed over the past 15 years with family businesses all over the country. Please let me know if you have any interest in getting a free copy. I’m going to be giving […]
3 Main Conflicts That Impede Growth in a Family Business
Conflict is unfortunately a main part of many family businesses. Families bring their private dynamics into a professional space, which can impact the business in a negative way, keeping it from moving forward or potentially even causing it to crash and burn. If you’re part of a family business, you know that they can be […]
Solid Family Management Practices Create Security and Future Success
What begins as a small family business needs to adapt to changing needs and be scalable for growth. Businesses without sound organizational structure are not set up for sustainable growth and easily stumble over future roadblocks. Better family management practices can build a stronger foundation within a business that can weather and adapt to whatever […]
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