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How to Identify and Groom Future Leaders

For owners of family-owned businesses, the most important decisions they will likely ever make revolve around identifying and grooming future leaders. As a family business advisor, I have seen more than my fair share of angst occur during the decision-making process over issues such as whether it should be a family or non-family member, who has the right business acumen and personal style, and much more. When you eliminate all the emotion from the decision — which certainly is quite difficult — it really … Read More >

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Clear Signs You Need to Change Your Leadership Style

Recently, a client who owns a family business told me seven employees had left the company over the past several months. He expressed his frustration with employees who did not possess a strong work ethic and were not loyal. He was shocked when I pointed out perhaps he had a direct or indirect impact on these employees’ behavior and/or decision to leave the company. In fact, I noted that having numerous employees quit in such a short time period might be a clear sign … Read More >

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Keys to Creating a Culture of Engagement

Business schools provide future leaders with plenty of education about strategies they can use to make companies more profitable and enhance employee productivity, but they’re missing the mark if they stop there. Research shows creating a culture that actively promotes employee engagement will lead to team synergy, which can be critical to business sustainability. In other words, if you don’t create a culture of engagement, all the strategy in the world won’t be effective in achieving success. As someone who has provided business advisor … Read More >

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How to Attract the Right Talent to a Family Business

Hiring at any company can be a slippery slope, as you must balance technical acumen with an applicants’ ability to fit into your established culture. As a family business advisor, I can see the stakes are even higher at a family firm, as potential employees’ ability to fit into the company’s culture should always trump their skill set. The reason for this is quite simple; at a family business, the top values are typically loyalty and respect. Thus, regardless of how much knowledge applicants … Read More >

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The Case for Family Business Advisory Boards

It’s been said many times that it’s lonely at the top, and that may be true for CEOs who choose to “go it alone” when it comes to setting a course and making decisions for their businesses. In the corporate world, that seldom occurs, since boards of directors exist to focus on governance, performance, and strategic planning — providing expertise, asking tough questions, and issuing challenges to facilitate long-term success. Family businesses are a completely different animal, as the power lies with the owner, … Read More >

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