Tag: Family Business

How Family Businesses Survive Unexpected ‘Wild Cards’

One of the key concerns for family businesses is continuity. Unlike non-family firms, many family businesses display a longevity that may span over centuries. In order to survive such long periods, Read more

Falling from Grace: How Scandals Affect Family Businesses

Promoting the family behind the family business can often bring benefits. Consumers can feel better about a product or service – and more likely to trust it and buy it -- if they know a Read more

New Ways Business Owners Can Use Boards

While boards of directors are common at large firms and nonprofits, family businesses don't always see their value or understand how to use them well. However, according to consultant and author Read more

How to Fix Succession Conflicts Stemming From Complicated Families

Part 2 of a two-part series. Read part 1 here . Family business succession planning is a difficult process – and it is even more challenging in cases where divorce and adoption complicate family Read more

Keeping it in the Family

From left, Jeanne Plumley, her daughter Rebecca Miller and Rebecca's daughter Ellery Editor’s note: This article is part of Lessons from Leaders, a Next Avenue initiative made possible by the Read more

Advice for Family Business Successors: Be Humble and Curious

David Bentall found out the hard way that his leadership of his family's construction and real estate firm wasn't working: his own uncle removed him from the company. Losing his job was a wake-up Read more

Developing Your Business Family Strategy: Where to Start and What to Consider

Successful, long-lasting business families share an understanding of what is important to them, what they want to do together, and how they want to work together to achieve their collective goals and Read more

'CHAOS' Brings Order to Family Businesses

Many people make the mistake of thinking that family businesses are simple businesses. Nothing could be further from the truth. The coexistence of two systems with differing ways of thinking—the Read more

It’s Complicated: Managing Succession in Cases of Divorce and Adoption

Part 1 of 2 -- Family business succession planning clearly is among a family business’s most challenging events and plenty of experts have weighed in on how to do it right. However, most of their Read more

Thicker Than Water: Balancing Individual Career Goals and the Family Business

With family-owned businesses accounting for a whopping share of the economy, the nature of family members’ individual career development in that sector is important and interesting. How indeed do Read more