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]
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]
Learn, Earn and Return
During a recent roundtable with CEOs from eleven local firms, one of the leaders proposed this evolution, or career phases – “Learn, Earn and Return.” David Dietrich offers these ideas, explanations. “Learning is where it all begins. In order to begin building a successful life, you must have the prerequisite knowledge to start earning, then [Continue Reading]
“You’ll Miss 100% of the shots you don’t take”
Don’t Miss the Opportunity “You’ll Miss 100% of the shots you don’t take” Family Businesses, the successful ones, recognize that their longevity depends on keeping customers, employees and shareholders happy. Recently a family business President commented on the challenges and the opportunities that have been presented to him. He expressed his personal drive, focus and [Continue Reading]
Labor Day
Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country. Part of the season is children returning to [Continue Reading]
How To Keep The Leadership Pipeline Full
Lessons learned, may be an overused phrase. There are many sites; lessons learned for First Responders, for Start-ups, Search Engine Optimization (SEO) and Life lessons. In a recent issue of the New Republic, a new book was reviewed. “Intern Nation: How to Earn Nothing and Learn little in the Brave New Economy”, the author disappoints [Continue Reading]