Tag: family business advice

Addressing Substance Use Disorders in a Family Enterprise

When a family member struggles with addiction, the consequences can ripple throughout the firm and increase its risks. Scott, a seasoned executive in a multigenerational family business, approached Read more

What Family Firms Can Teach Us About Work-Life Balance

Blurring work and personal lives can lead to stress and exhaustion. Family businesses do these four things to create healthier boundaries. From the launch of the first cellphone with email Read more

Are Your Family and Business Thriving Together - Or Undermining Each Other?

Like organisms in nature, the relationship between family and business can be mutually beneficial or detrimental. Here's how to strengthen both spheres. EDITOR‘S NOTE: This article was produced in Read more

CEOs Who've Been Mentored Achieve Better Financial Results

Family firms where the departing CEO has mentored the successor enjoyed stronger return on assets. EDITOR'S NOTE: This article was produced in partnership with Strategic Entrepreneurship Journal, a Read more

Family Leaders: Can Your Business Still Sail Without You?

Without a map for navigating emergencies and guiding successors after your departure, your business and your legacy could be left adrift. Imagine you're at the helm of a ship, sailing through calm Read more

A New Way to Resolve Extreme Conflict in Family Businesses

Family members may feel “trapped” in conflicts, unable to resolve substantive issues without damaging their familial relationships. This often leads to disputes that persist for decades. Conflict Read more

Merging With Another Family Firm is Safer and Smarter

Family business mergers enjoy greater harmony and better financial performance than mergers involving non-family firms. Mergers and acquisitions represent one of the most significant strategic Read more

Unready and Unadvised: The Silent Crisis in Family Wealth Transfer

A study of 13,500 family firms shows that nearly half of heirs don’t know where the assets are -- and 3 in 5 wouldn’t know what to do if the founder died suddenly. We all know plenty of Read more

A Family Council Can Help Larger Families Stay Connected

Consider one if your family business has 15 or more relatives involved, or multiple generations. Many family firms wonder about whether they need a family council: a group that helps ensure that Read more

When Family Businesses Should Think Like Private Equity Firms

Adopting all or even some PE investor strategies can add value and enhance competitiveness, especially when a successor takes over or the company may be sold. Family businesses must navigate a Read more