Tag: family business advice

How CSR Shapes the Power of Family Business Branding

Being family-owned or socially responsible endears a business to consumers. Having both attributes mutes the impact of family ownership, and requires a different branding strategy. EDITOR’S NOTE: Read more

Family Businesses Have a Massive Impact on the UK Economy

A new report by the Family Business Research Foundation and the Centre for Economics and Business Research shows families control 93 percent of UK firms. The UK’s Family Business Research Read more

Family Firms Prosper When Shareholders Think Like Trustees

A trustee mentality helps make large families with many shareholders more cohesive, and preserves wealth for generations. Business families with many shareholders and family members who have remained Read more

Senior Leaders: Prepare Early to Let Go of the Business

A handover often marks the end of life as the leader knows it and the start of a new and unfamiliar phase. A grieving process is not uncommon. For entrepreneurs, business shapes self-image and Read more

The Psychology of Effective Exit Planning: A Guide for Families and Advisors

Family firms can help the next generation move forward by understanding and supporting the emotional aspects of the exit for the current leader. Business advisors widely agree that the biggest Read more

Men and Women Cling to Power for Different Reasons

While male leaders often view stepping down as a threat to their identity and accomplishments, female leaders appear to be motivated by other factors. EDITOR‘S NOTE: This article was produced in Read more

How Family Businesses Can Recruit the Best C-Suite Candidates

Family-owned businesses often struggle to compete with non-family firms when it comes to recruitment, and understanding the expectations of job seekers is crucial to attract the best talent. Read more

The Perks and Pitfalls of Hiring Your Parents

Allen Esrock of NxtGen Nexus weights in on how to optimize the free labor and other benefits, and how to manage conflicting goals, sibling resentment, and suspicious non-relatives who work for you. Read more

Justifiable Pride or Arrogance? It Matters for Family Businesses

Bragging about your family connection is universally bad, but even pride in your accomplishments must be displayed carefully -- especially in eastern cultures. In my experience working with Read more

‘SOBs’: The Real Power in Family Businesses

"Saviors Of the Boss" have the trust of company leaders and often serve as their gatekeepers. Here's how to understand them and work with them. Family businesses are driven by a blend of deep-rooted Read more