Tag: Successful family businesses

Founders: Let Next-Gens be Entrepreneurial

A family firm's longevity depends on fresh approaches to doing business, but all too often these fresh insights can clash with the family's entrenched way of doing things. Founders especially can Read more

5 Ways to Keep Your Kids From Fighting Over Your Will

It is your worst nightmare. You’ve passed away, and now your adult children no longer speak to each other. Circumstances around your death have destroyed the family you spent your life building, Read more

Do Family Meals Fuel Entrepreneurship in Family Businesses?

Should families talk about their business during mealtime? On the one hand, some argue that mealtime should be about the family, with time being devoted to building family bonds and personal Read more

Helicopter Parenting Can Hurt Future Family Business Leaders

The founders of many longstanding family businesses likely had parents who insisted on responsibility and let them learn from their mistakes. This is not so today -- the era of helicopter parenting, Read more

Family Offices: The Sober Guardians of Family Wealth

Family businesses, and the wealth they create, are run by human beings, who can be impulsive. When the wealth is substantial, often an impartial third party is the best choice to manage this wealth Read more

'Succession' Hits Close to Home at Family Firms

HBO The HBO hit series "Succession" -- detailing the family business conflict, backstabbing, jealousy and double-dealing at the fictitious family-run media empire Waystar Royco --has won several Read more

Why Don't You Educate Your Owners?

We yet have to meet a business family that does not want their family members to be competent and engaged owners and stewards. Everyone agrees that having owners who understand finance and strategy, Read more

One Family, Multiple Businesses: Preserving Harmony and Profits

For business or emotional reasons, sometimes one family ends up with more than one business under its umbrella. An entrepreneurial, ambitious family member may want to launch a new venture, or a Read more

From Solo to Team: Helping Siblings Maintain Your Valuable Outside Relationships

A family business founder or leader often toils for years to cultivate good relationships with people, organizations, and businesses outside the family, including banks, suppliers, customers, and the Read more

How Famous Family Firms Use Their History to Connect With Stakeholders

Tangible items like postcards, photos, old accounting books, or logos and images from brand and advertising campaigns are more than just mementos of a family business’s past. They create the family Read more