I have been reflecting since the beginning of the year on my business. Some brief thoughts you may consider for your family enterprise planning for 2019. 1. Operations and day to day – check 2. Short term profitability and business wins – Check Those two are the relatively easy and operational checklist items. Now what […]
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There is an appropriate time in life when: 1. teaching your children about the responsibility of wealth, and 2. telling them about their potential inheritance, should be done. The right timing of raising the points, particularly in point (2), can be critical to a successful succession. In my view, you can discuss the points and […]
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This may be a controversial blog post. However, something has to be said and we can begin to effect change, one child and one family at a time. This is the amount of intergenerational wealth transfer that is estimated to transfer in North America in the next 30 years. Two concerns about this impending situation […]
Read MoreThe birth order of your children that are either active in the business or owners can have some bearing on the success of your succession plan. Did you ever think this way? Many traditional families often left the family business to the eldest sibling, and in some cultures, regardless of the birth order, the eldest […]
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The single and important difference I have discovered with family enterprises that have successfully navigated through multiple generations is a magic glue. What is that special ingredient to maintain discipline and focus for a family enterprise? COMMON VALUES. Surprised? This magic glue is not a killer product, industry leader or proprietary product. These are the […]
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