Tag: family business succession planning

Hand Down the Family Business but Keep a Hand In

Skip-generation entrepreneurship combines the wisdom of business founders with the energy and tech savviness of their grandchildren. Photo: Lauri Union, founding executive director of the Bertarelli Read more

Family CEOs May Encourage More Innovation Than Non-Family Leaders

While professional non-family leadership may bring some advantages, the stability brought by family leaders may encourage employees to innovate without fear of failure. Much research has focused on 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

5 Practical Tips for Making Business Decisions With Family Members

Running a family business doesn’t mean always seeing eye to eye, but you can still overcome challenges, resolve conflicts, and evolve as a team. At 13, I unknowingly took part in my first serious 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

Generational Experiences Shape Family Business Leaders' Priorities

Beliefs about success, responsibility, and value creation reflect the time and place in which business owners grew up. Religion and strong family ties magnified the impact. Family business leaders Read more

Senior Leaders: Prepare Early to Let Go of the Business

A handover often marks the end of life as the leader knows it and the start of a new and unfamiliar phase. A grieving process is not uncommon. For entrepreneurs, business shapes self-image and Read more

The Psychology of Effective Exit Planning: A Guide for Families and Advisors

Family firms can help the next generation move forward by understanding and supporting the emotional aspects of the exit for the current leader. Business advisors widely agree that the biggest Read more

Men and Women Cling to Power for Different Reasons

While male leaders often view stepping down as a threat to their identity and accomplishments, female leaders appear to be motivated by other factors. EDITOR‘S NOTE: This article was produced in Read more