Face-to-face meetings between the members of a family business is one of the most effective tools for improving communication, building cohesion, sharing values, creating traditions and, ultimately, increasing the chances…
Financial capital is essential for starting and maintaining a family business. But to keep it going over the long haul, the vital ingredient is intellectual capital. A family business leader…
Many family business leaders never question whether to have a board of directors. If the business is set up as a corporation, most of the time it is legally required…
No family business is an island. Every family firm requires outside assistance from time to time, even if it is nothing more than help preparing a tax return or selecting…
There’s much ado about millennials these days. For some they’re nothing more than a generation of selfie-obsessed, video-gaming freeloaders who are absorbed with the idea that work gets in the…
Addressing change with business owners – especially when you’re related – can be a challenge.
One of the staple horror movie scenes shows an actor under the influence of a full moon undergoing a dramatic transformation from ordinary human into a fanged and howling lycanthrope….
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.