It sometimes takes a fresh take on an old idea and a “new set of legs” to rejuvenate a business. This is a story of one family’s succession that really appears to have worked. See the video link below. http://video.nytimes.com/video/2011/06/07/dining/100000000853608/chinatowns-new-generation.html Learn, think, apply.
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Some key agreements to consider as an essential part of your succession plan. These are not all inclusive and we will further elaborate on them in later posts. 1. Shareholders’ agreement 2. Voting agreement 3. Dividend policy 4. Insurance, how much is enough? 5. How much to reveal to and discuss with the following generation […]
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The enterprise is not just about making money. I hope that it has a greater purpose than that. Much literature has studied the traditional 3 circle model for family enterprises made up of family, ownership and business. Each of these 3 parts operate in a family enterprise and with best practices balance and merge all […]
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We are all busy: business, social, philanthropy activities abound. Organizing family meetings can be a challenge, especially when the organizer is hoping to have 100% attendance. With this organizational challenge, oft times a lot of pressure is placed on ensuring a productive agenda. Maybe an agenda is not needed for every family meeting? Sometimes important […]
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Shirt sleeves to shirt sleeves in three generations is an American translation of a Lancashire proverb, “there’s nobbut three generations atween a clog and clog.” Some say that Andrew Carnegie, the famed 1800s industrialist from Scotland, brought the proverb’s message to the New World. Further investigation proves that the adage is not unique to any […]
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