Children who are indulged in bloated salaries and do-nothing jobs aren’t being helped and will likely not be happier as a result. And these types of indulgences significantly hurt the business.
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Chances are good that a long-lived family business will eventually be led by a sibling team. Despite sharing common values, siblings face real obstacles when cast in the top leadership spot.
Managing Partner of REGENERATION, Elle Hansen, shares her thoughts about a unique time during her work as a family business consultant and how it impacted her and her clients In…
"All you need is love," sang the Beatles. But if the Fab Four had been family business owners, the lyric should rightly have been written, "All you need is trust."...
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DO YOU REALLY KNOW WHAT YOU’RE GETTING INTO? Someone you love has named you the executor of their estate in their will. Aside from feeling pleased that they respected your…
Once upon a time, family business patriarchs had it easy when it came to deciding who would take over the family business. Centuries-old customs required that the eldest son “regardless…
With the speed of business moving faster than ever, who in your business is minding the future? What can you do TODAY to plan for the future of your family…
When Bob Steadman started his manufacturing business 22 years ago, he had never heard of mission statements. However, from the beginning he operated his company with a few simple guiding…
The stock market wasn’t the only thing that crashed on “Black Monday,” October 19, 1987. The Phillips siblings (real case, fake name) remember the day all too well. On this…
Henry James Pillows, our mythical family business owner, has celebrated his 75th birthday and has decided “mandatory retirement or not, I’m leaving.” His four children, all of whom work in the…