Author: Michael Louie

A surprising 2nd generation enters the family business… – my weekly perspective

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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Decision making can result in analysis paralysis – my weekly blog

Making decisions in a company in which the entrepreneurial spirit is embraced usually is straightforward. The company’s leader will decide a strategy/direction and move the company towards the goals set. This decision making becomes more challenging and complex as the company grows or begins to involve other family members. Why? Family dynamics and communication styles […]

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What essential family agreements to ratify? – my weekly blog

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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Family meetings as a vacation, getting to know you – my weekly blog

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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