Tag: Family Business

New Ways Business Owners Can Use Boards

While boards of directors are common at large firms and nonprofits, family businesses don't always see their value or understand how to use them well. However, according to consultant and author Read more

How to Fix Succession Conflicts Stemming From Complicated Families

Part 2 of a two-part series. Read part 1 here . Family business succession planning is a difficult process – and it is even more challenging in cases where divorce and adoption complicate family Read more

Keeping it in the Family

From left, Jeanne Plumley, her daughter Rebecca Miller and Rebecca's daughter Ellery Editor’s note: This article is part of Lessons from Leaders, a Next Avenue initiative made possible by the Read more

Advice for Family Business Successors: Be Humble and Curious

David Bentall found out the hard way that his leadership of his family's construction and real estate firm wasn't working: his own uncle removed him from the company. Losing his job was a wake-up Read more

Developing Your Business Family Strategy: Where to Start and What to Consider

Successful, long-lasting business families share an understanding of what is important to them, what they want to do together, and how they want to work together to achieve their collective goals and Read more

'CHAOS' Brings Order to Family Businesses

Many people make the mistake of thinking that family businesses are simple businesses. Nothing could be further from the truth. The coexistence of two systems with differing ways of thinking—the Read more

It’s Complicated: Managing Succession in Cases of Divorce and Adoption

Part 1 of 2 -- Family business succession planning clearly is among a family business’s most challenging events and plenty of experts have weighed in on how to do it right. However, most of their Read more

Thicker Than Water: Balancing Individual Career Goals and the Family Business

With family-owned businesses accounting for a whopping share of the economy, the nature of family members’ individual career development in that sector is important and interesting. How indeed do Read more

Family Businesses: The Greener, the Better?

Climate change has made preserving the environment a critical issue for citizens, governments, and corporations. This is especially true at family businesses, where the family’s desire to Read more

How Three Women Upheld Family Values and Thrived Despite Adversity

Family businesses are unique because the family values held by their founders shape the very fabric of the business. It goes without saying that finding ways to instill those values into the business Read more