Tag: family business advice

Justifiable Pride or Arrogance? It Matters for Family Businesses

Bragging about your family connection is universally bad, but even pride in your accomplishments must be displayed carefully -- especially in eastern cultures. In my experience working with Read more

‘SOBs’: The Real Power in Family Businesses

"Saviors Of the Boss" have the trust of company leaders and often serve as their gatekeepers. Here's how to understand them and work with them. Family businesses are driven by a blend of deep-rooted Read more

Articles About Relationships, Succession Were Top Draws in 2024

FamilyBusiness.org attracted more than 5.5 million page views in 2024, and judging from the best-read articles published last year, many readers wanted advice about handling toxic family Read more

Hiring Mom and Dad? Optimize Their Strengths and Manage Boundaries

Sharon Beck, owner of a Jovie Childcare franchise, shares her insights on the benefits and challenges of being your parents' boss. Around the time that Sharon Beck was ready to quit full-time work to Read more

The HERO Model: How Family Enterprise Leaders Can Accelerate Change

Hope, Efficacy, Resilience and Optimism can make us better people and better leaders. Here's how to cultivate it within ourselves. All leaders and advisors struggle with organizational change. How Read more

Protect Your Family Business From Crime

Activities like selling in physical stores, regular trips to the bank, driving company cars, and talking openly about business growth can make business owners targets. EDITOR'S NOTE: This article was Read more

Transferring Family Wealth to the Next Generation: What’s Fair?

Baby Boomers are set to hand down trillions of dollars to younger generations. Family firms must consider how to transfer their ownership shares, and how much goes to whom. Around the world, an aging Read more

Family History Can be Re-Framed to Encourage Harmony and Progress

The goals of the family and the business are often at odds. Family history can inspire bold and necessary steps that are still in harmony with the family’s image of itself. A family sitting around Read more

Include the Extended Family in Your Ownership Strategy

Your "owners' strategy" should consider that in the future, the family firm will likely have many more owners. Take a broader focus when you develop it. In the US, most family business advisory firms Read more

How Boards Help Complex Family Firms Make Sound Decisions

Fiduciary boards keep family firms focused on the long term, rather than on short-term, tactical strategies. But many family firms resist having one, fearful of losing control of their enterprise. Read more