Who will pitch in on difficult projects, sometimes without pay? Who will tolerate being underpaid? Who will give you honest and sometimes challenging feedback on strategic business decisions? A: family members of a family enterprise We often take for granted those closest to us and will be more “honest” with them as to their value […]
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Some thoughts about family meetings, especially for those meetings focusing on the family business. From my experience, as the business goes through the generations, and more owners are at the table, the decisions and discussions can often be fraught with challenges, sometimes acrimony. You want to try to remove all of the controversy so that […]
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I have previously written in a blog about how and why a family can build giving back into their family. Giving, particularly the amount, is a personal choice and decision. If giving does form part of your family’s values, then you should consider educating your family about philanthropy. Some families have set up private foundations […]
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Should owners be entitled to work in the family enterprise? I have purposely used the word “entitled”. In my value system, a person just by being born into the right family should not necessarily be entitled to all that they would want. You have to consider what your value system is? Some family enterprises believe […]
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How do you find your successor? This is one important, and often the most important aspect of your succession plan. You have to have as a goal of the succession plan not only organizing your business into a place that it can be handed over but also, who will be at the helm of your […]
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