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A Family Business Challenge: Choosing Trusted Advisors

The statistics about the longevity of family-owned businesses are quite sobering. Although 90% of all U.S. businesses are family owned, and they employ 60% of the workforce, most won’t survive past the second generation. There are many reasons why this is the case, but failing to engage trusted family advisors is certainly close to the top. It’s important for all businesses to collaborate with trusted advisors such as CPAs, wealth managers, attorneys, and other professionals who have expertise in areas that are critical to … Read More >

Posted in Advice, Blog Posts, Family Business, Financial Advisors | Tagged , , , | 1 Comment


Family Business Succession Planning: Boost the Odds of Long-Term Success

The statistics about family businesses—a mainstay of the global economy—are quite sobering. It’s well documented that just 30% of all family businesses last into the second generation, and only 12% make it to the third generation. Why? It’s often the result of poor talent management. An article in the April 2015 Harvard Business Review, “Leadership Lessons from Great Family Businesses,” provided some food for thought from a study conducted by Egon Zehender and Family Business Network International of the 50 leading family firms around … Read More >

Posted in Family Business, Leadership, Legacy, Succession Planning | Tagged , , , , , | Leave a comment