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]
Closely-Held Family Businesses Rise in Value
The Wall Street Journal reported in June, Some of the world’s richest people derive their wealth from closely-held business. At $3 trillion, private businesses controlled by “ultra high net worth” families are valued at a fraction of the world’s roughly $55 trillion stock market capitalization at the end of 2012, according to data from Wealth-X [Continue Reading]
Build Focus Lists for Small Business Success
Focus Lists, Suggestions and Rules Lists help me keep focus. Focus helps me achieve success. Lists help me remember everything. Well, everything that I remember to put on my list! I use lists at the grocery store, to help me pack for trips, to stay on task as a writer, and to manage [Continue Reading]
Great Companies, Family Businesses, Don’t Start With A Plan! Really?
Planning, Passion and Purpose in Great Companies Many Colleges and Universities have a center for small business, some have programs for family businesses and a few even offer degrees in Family Business Management. Many if not all offer classes on business plans, strategic plans, tactical plans, short term plan, 5 year plan and some [Continue Reading]
Consider Millennials In Your 5-Year Family Business’ Strategic Plans
. The Pounding of T.S. Elliot , Technology and Generations Last week there was an article reviewing Technology in 2011, the writer spoke of Twitter, Blackberry, Zuckerberg’s Facebook finally commenting on T.S. Elliot’s The Waste Land. His point was the power of a Kindle or iPad to permit you to read and hear this classic [Continue Reading]
Strategic Imagination And Innovation – “For Every IPOD There’s Two Pairs of MC Hammer Pants”
Strategic Imagination Recently I had a chance to catch up with a lifelong friend; he was just finishing a project halfway around the world for a very large firm. My buddy has always been a little “out there”; I remembered years ago when we were travelling together on business, he went to stretch his legs [Continue Reading]
Customer Service – A Compass will help the Team find their way
Having and executing a plan are key puzzle pieces linked to solid metrics and great communication. A Compass will help the Team find their way. In John Grissom’s The Client, attorney Reggie Love wears a compass around her neck. A recovering alcoholic and pill user, Love explains, “So I’ll never lose my way again.” Success [Continue Reading]