Tag: family business succession planning

Give Future Leaders Exposure to Critical Roles

A job rotation program gives next-gens both hands-on experience and a working knowledge of different departments and important outside relationships. A family business’s future leaders may have Read more

New Family Business CEOs Must Claim the Seat, Not Just Inherit the Title

When a successor becomes CEO, the title may change overnight — but authority, identity, and trust do not. Next-generation leaders must act like the CEO before they feel like one. A successor takes Read more

When Keeping the Business in the Family No Longer Makes Sense

A study of German family businesses showed that as intra-family succession becomes more difficult, families are increasingly open to selling — and intermediaries are emerging to help match owners Read more

Why Family Business Founders Struggle to Step Back During Succession

Founder resistance is often more complicated than control. Empathy can help families understand what founders are trying to protect — and what their continued involvement may be preventing. Read more

Fair Does Not Always Mean Equal: Ownership Decisions in Family Business

Families often struggle to decide whether shares should be divided equally among children or reflect leadership, sacrifice, and “sweat equity.” In family businesses, few conversations generate Read more

Helping Daughters Become Successful Family Business Leaders

Daughters can become strong and credible successors when families involve them early, clarify authority, support professional development, and make room for new models of leadership. While daughters Read more

The Hidden Fault Lines That Threaten Family Enterprises

From death and divorce to disruption and disrepute: these 12 hidden risks can weaken family enterprises over time. Family enterprises are often admired for their long-term orientation, strong values, Read more

How Leaders Can Transfer Their Great Instincts to Successors

A leader's tacit knowledge can make the company more successful, but it's a challenge to understand what's behind it or how to pass it down to next-gens. A family business leader's instinct -- often Read more

Family Businesses Must Prepare for the Unthinkable

An unexpected death or disability can wreak havoc on a family business's best-laid plans. Patricia Annino, a Senior Advisor and Associate Partner at Cambridge Family Enterprise Group, has seen many Read more

How Families Can Override Emotions to Make Better Judgments

When decisions become emotionally charged, it becomes harder to think clearly just when clear thinking is needed most. A family business leader said to me recently, “We need to make a decision, but Read more