“If you don’t know the kind of person I am and I don’t know the kind of person you are a pattern that others made may prevail in the world and following the wrong god home we may miss our star.” No one achieves real success alone. We depend on our core friends, associates to [Continue Reading]
Does your Business do Lookahead planning?
Lookahead planning is an often overlooked phase in project/program management. Many times Family businesses do little look-ahead planning. Lookahead Planning establishes a way forward, a schedule, based on input from the stakeholders, that creates realistic guidelines to meet the objectives of the project. Evolution is a relentless process that seems to keep going and [Continue Reading]
How To Bridge the Generational Technology Gap in a Brave New Family Business World
Oh, wonder! How many goodly creatures are there here! How beauteous mankind is! O brave new world, That has such people in’t! Generations impact family businesses. Technology is a critical part of family business. Many family firms have come to rely on advanced, automated tools and processes. Today’s Generation Gap in family firms maybe the [Continue Reading]
Succession Planning – How To Avoid Failure in 10 Easy Steps
When the fall is all that’s Left, it matters a great deal. Family businesses fail, fall down. Bad Succession Planning? A PricewaterhouseCoopers survey listed 10 reasons why Family-Owned businesses fail. 1. Poor succession planning. 2. Lack of trusted advisers. 3. Family conflict 4. Different visions between generations. 5. Governance challenges. 6. Exclusion of family [Continue Reading]
How to Properly Manage Succession Planning in Small Business and Family Business
“Call Me Irish but I don’t believe in Cooler Heads Prevailing” The stereotypical temper of the Irish and those of Irish descent is most often somewhat unexpected, extremely passionate, and very short-lived. In Family Business sometimes cooler heads don’t prevail. Main conflicts in Family Business include control, succession planning, performance and compensation issues. William [Continue Reading]
Learn How Strategic Talent Management Leads to Family Business Success
“I’m not looking for the best players; I’m looking for the right ones.” How much value is being lost owing to the lack of talent management? Many Family businesses over overlook a basic economic issue, scarcity of human talent – they don’t recognize until it’s too late. “Scarcity is the fundamental economic problem of [Continue Reading]
Family Business Conflict – It accumulates by a magnitude
Family business conflicts can be the reason for lack of success, lack of growth and the tempo that ideas move forward. Webster’s Dictionary (1983) defines conflict as sharp disagreement or opposition of interests or ideas. In other words, what I want does not match what you want. When conflict occurs in the workplace, it can [Continue Reading]
Family Business: Succession Planning Strategies Balance Competing Interests
The History of Family Business The histories of Family Businesses span time. There were family farms before there was Rome. Shepherding has been a family business over 6000 years; other Family business are recorded in the Guinness Book of Records, Hoshi Ryokan , a family owned and operated hotel in Japan, opened in 717. [Continue Reading]
Leadership
What is Leadership? What is Leadership in a Family business? Family business success is based on Leadership. Succession planning, strategy in a family owned business needs a leader. One definition is “Leadership is the professed desire and commitment to serve others by subordinating personal interests to the needs of those being led through effectively [Continue Reading]
EMPLOYEE TRAINING: Nothing to Prove, Nothing to Lose, Nothing to Hide
As Leaders of a Team, an Organization, a Company we must consider these three thoughts, nothing to Prove, Nothing to Lose, Nothing to Hide. My Mom often said, “Have a good time and behave as if I was there.” Phillips, Craig and Dean wrote the following lyrics in their song “Nothing to Prove.” “You [Continue Reading]