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Category Archives: Family Business

5 Signs You Need a Family Business Consultant

The business of family is hard. A family run business is even harder. Family-owned and operated businesses are part of the American fabric. Whether it’s the Waltons of Wal-Mart or the family bakery on the corner, a family business instills a sense of pride. Creating something that can be passed down from generation to generation is a desirable legacy — and if done correctly, can ensure a family will thrive for generations to come. However, as anyone who runs or works in a family … Read More >

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Family Business Feud: Getting to the Root of the Issue

Family-owned businesses have a unique dynamic. There is a lot more emotion involved than in a public company where answering to the shareholder is the driving force behind all decisions. This emotion can be a positive thing – creating a feeling of unity in which everyone works together to reach a common and even righteous goal. Emotion, though, can complicate things as well – especially among family members in the business. Family relationship dynamics often leak into actual work issues, sometimes amplifying those issues … Read More >

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Critical Principles for Mentoring the Next Generation

Mentorship is crucial for the next generation of leaders. Whether the younger generation is being groomed to take over a family business or simply graduate into a leadership position at a closely held or public company, the knowledge and wisdom of the current generation is imperative to the younger generation’s success. I have found in my work, however, that many mentor-mentee relationships suffer from a variety of roadblocks, leaving both mentor and mentee frustrated and disenfranchised. The generational divide is often the main driver … Read More >

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Does Gender Matter in Business Leadership? Yes – and No.

As a family business planning consultant, leadership development and performance coach, and woman, I’m often asked whether gender matters when it comes to leadership. It’s a hot-button political issue, a question that requires nuanced thinking, and a subject that is coming into more prominence as the number of women executives in the workplace continues to grow. The answer to the question, however, is far from black and white. Seemingly everyone you talk to has an opinion on the topic, so let me offer mine: … Read More >

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When You Should Revisit Your Company’s Values

Let’s Talk About Values Every person and every company lives and operates by a set of values – or at least purports to. Too often though, we state our values, then ignore them – and eventually forget about them. Revisiting your values on a consistent basis is extremely important – especially for businesses. Values are not static. Times change, businesses change and leadership changes. If your values aren’t reflective of these shifts in your business, things can get off track quickly. As a family … Read More >

Posted in Family Business, Legacy, Succession Planning | Tagged | 1 Comment