Family businesses, a unique blend of family ties and business acumen, face a complex challenge: succession. This intricate dance is fraught with emotions and high stakes, as it determines the…
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Is succession the only hurdle your family business faces? While it's a critical issue, advisors know there's more to the story. This article explores three underlying challenges that can make…
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2020 found families and businesses under pressure, stress and in the middle of the COVID crisis. For many family businesses this called attention to the structural damage or holes that…
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As anybody who watches the “Twilight” movies knows, vampires live forever. In reality, of course, the actors portraying the characters are as mortal as anyone. And the enterprises led by…
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Operating a business can be stressful; and when that business is family owned, there can be heighten stress and conflict brought on by the intangibles. For example, I see a…
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Family businesses are too often like the proverbial “red-headed step child” in the corporate world. That’s because there are still a lot of misconceptions, or myths, about family businesses that…
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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…
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"I never thought I would leave the family business." says the 46 year old unemployed heir of a $20 million Texas based light manufacturing and distribution company. "But when Dad got…
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