Tag: Running a family business tips

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

5 Practical Tips for Making Business Decisions With Family Members

Running a family business doesn’t mean always seeing eye to eye, but you can still overcome challenges, resolve conflicts, and evolve as a team. At 13, I unknowingly took part in my first serious Read more

Nonfamily CEOs Are Most Vulnerable in the Middle Stage of Their Tenure

Family businesses tend to give all CEOs time to prove themselves, but are tougher on outsiders who don’t deliver results after a few years. EDITOR’S NOTE: This article was produced in partnership Read more

Why Some Job Seekers Avoid Family Firms

Family firm branding can make a company appear authentic, but it's also important to convey innovativeness, prestige, and a fair shot at getting ahead. While approximately 75% of new jobs worldwide Read more

Generational Experiences Shape Family Business Leaders' Priorities

Beliefs about success, responsibility, and value creation reflect the time and place in which business owners grew up. Religion and strong family ties magnified the impact. Family business leaders 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

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

Hiring Mom and Dad? Optimize Their Strengths and Manage Boundaries

Sharon Beck, owner of a Jovie Childcare franchise, shares her insights on the benefits and challenges of being your parents' boss. Around the time that Sharon Beck was ready to quit full-time work to Read more

Family History Can be Re-Framed to Encourage Harmony and Progress

The goals of the family and the business are often at odds. Family history can inspire bold and necessary steps that are still in harmony with the family’s image of itself. A family sitting around Read more

Include the Extended Family in Your Ownership Strategy

Your "owners' strategy" should consider that in the future, the family firm will likely have many more owners. Take a broader focus when you develop it. In the US, most family business advisory firms Read more