Tag: family business succession planning

Here Are the Next Gen's Biggest Worries

Many want to know where they will fit in the family enterprise; how the wealth will be divided; and how the business will be governed as the family grows in complexity. Dann Van Der Vliet, Executive Read more

Things to Consider When Transferring Family Business Ownership

Family business succession involves transferring ownership as well as management. Family circumstances and past events lead to three types of ownership transfers. EDITOR’S NOTE: This article was Read more

Will Your Successors See Themselves as Heirs or Entrepreneurs?

Mentoring plays a huge role in shaping how the next generation views the role of family business leader, a study in China shows. “What’s important is not your experiences, but your feelings about Read more

Family Business Leaders' Fear of Failure Can Inhibit Next Gens

When parents openly display fear of failing, it can unintentionally portray entrepreneurship as unsafe, undesirable, or even shameful. This doesn't help their successors or the business. Why do so Read more

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