Tag: family business advice

Family Business Leaders' Fear of Failure Can Inhibit Next Gens

When parents openly display fear of failing, it can unintentionally portray entrepreneurship as unsafe, undesirable, or even shameful. This doesn't help their successors or the business. Why do so Read more

Are the 'Best Practices' All Wrong for Your Family Business?

The best processes and systems come not from outside advisers and experts, but from how families actually live, relate to one another, and make decisions. Family businesses are more than economic Read more

Hand Down the Family Business but Keep a Hand In

Skip-generation entrepreneurship combines the wisdom of business founders with the energy and tech savviness of their grandchildren. Photo: Lauri Union, founding executive director of the Bertarelli Read more

Family CEOs May Encourage More Innovation Than Non-Family Leaders

While professional non-family leadership may bring some advantages, the stability brought by family leaders may encourage employees to innovate without fear of failure. Much research has focused on Read more

Like military strategists, business owners face decisions that must balance vision and resources, courage and caution, innovation and discipline. What can small business owners, family firms, and Read more

Addressing Substance Use Disorders in a Family Enterprise

When a family member struggles with addiction, the consequences can ripple throughout the firm and increase its risks. Scott, a seasoned executive in a multigenerational family business, approached Read more

What Family Firms Can Teach Us About Work-Life Balance

Blurring work and personal lives can lead to stress and exhaustion. Family businesses do these four things to create healthier boundaries. From the launch of the first cellphone with email Read more

Are Your Family and Business Thriving Together - Or Undermining Each Other?

Like organisms in nature, the relationship between family and business can be mutually beneficial or detrimental. Here's how to strengthen both spheres. EDITOR‘S NOTE: This article was produced in Read more

CEOs Who've Been Mentored Achieve Better Financial Results

Family firms where the departing CEO has mentored the successor enjoyed stronger return on assets. EDITOR'S NOTE: This article was produced in partnership with Strategic Entrepreneurship Journal, a Read more

Family Leaders: Can Your Business Still Sail Without You?

Without a map for navigating emergencies and guiding successors after your departure, your business and your legacy could be left adrift. Imagine you're at the helm of a ship, sailing through calm Read more