Tag: family business advice

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

How Family Firms Can Identify and Preserve Their Legacy

Many family firms are not fully sure of their legacy and how to communicate it to others. Research suggests ways to get a better handle on it. EDITOR’S NOTE: This article was produced in Read more

'Yellowstone' Mirrors Real-Life Family Business Dramas

Like many family business leaders, John Dutton struggles to uphold longstanding traditions while external competitive pressures mount and next-gens clamor for change. "Yellowstone" is an American Read more

Consumers Love Local Brands. That's Good News For Family Businesses

Being a family firm enhances a brand's local appeal and influences consumer purchasing behaviors. Consumer preferences are increasingly favoring brands with a strong local identity. The reasons for Read more

How to Boost Your Board's Performance

On an ideal board, directors with different levels of experience, backgrounds, and interests form a cohesive team that pulls in the same direction, and that achieves more together than "the sum of Read more

Separate Family Offices Can Minimize Money Problems

It can be dangerous to ask executive assistants or your CFO to manage your personal finances. RSM's Ben Berger shows why a separate office helps both business and family manage money responsibly. All Read more

Women Encourage Candor at Family Businesses

A conversation orientation in the family carries over to the business -- especially for women, who are increasingly becoming the family firm's "vocal heroes." Have you ever wondered if family Read more

Family Firms Must Address Mental Health Challenges

Anxiety, depression, and other conditions disrupt business operations and strain relationships. Ignoring them won’t make them go away. In the world of family businesses, success often comes with a Read more