How to Handle Family Business Conflict

Did you know that the most common kinds of family business conflicts include father-son rivalries, sibling rivalries, and intrafamily friction? If you’re part of a family business, it is easy to feel like you are the only people who struggle with family business conflict. The truth is that these sorts of clashes occur all of the time. This means that there […]

How to Mediate a Family Business Dispute

Family businesses account for roughly 60% of the United States’ Gross Domestic Product (GDP). These enterprises have long been the bread and butter of the economy, and are a large driving force of entrepreneurship. Because of this, you must look into family dispute resolution to handle things whenever you and your family aren’t seeing eye to eye on […]

How to Effectively Manage a Family Company

With 50% of small businesses folding after 5 years, you want to do everything you can to build stability. And if you run a family business, there are extra considerations to keep things running smoothly. Without the proper safeguards, you run the risk of creating internal resentment that can hurt your business — and family. What strategies and […]

How to Improve Communication in the Workplace

Workplace failures occur for many reasons, but did you know that they’re caused by poor communication 86% of the time? Communication is crucial in business, relationships, and life, yet many underestimate its importance. On the flip side, company executives don’t always realize that communication is even an issue.   If you’re a business owner and recognize […]

How Transfer Ownership Works

Are you looking to transfer your business to a loved one? Studies show that about 90% of businesses in the US are family-owned. With the concept of transfer ownership, these enterprises continue to exist. However, transferring business ownership isn’t simple as giving gifts. There are some legal hurdles to get over before you can pass your business […]

How to Successfully Transition the Family Business to the Next Generation

Did you know that there are around 5.5 million family-owned businesses in the United States? Whether the business is a vegetable farm, a beloved family diner, or a posh bar in the city, the family business holds a special place for family and community members. Are you a family business owner who would like to […]

6 Tips for Effective Family Business Strategic Management

Running a family business comes with a special set of challenges. The term “family-owned business” tends to conjure an image of a small-scale, locally run coffee shop or hardware store. In reality, family businesses account for the majority of the global GDP. Some of the biggest brands in the world – Walmart, BMW, Ford, Comcast, etc. […]

How a Family Business Advisory Board Can Help Your Business Grow

Did you know that 30% of family-owned businesses last until the second generation, and only 12% will make it to the third generation? Considering that family-owned businesses are responsible for creating 78% of all new jobs in the United States, it’s critical to take care of them and ensure their longevity. If you are running or working […]

The Benefits of Family Business Executive Succession Planning

There are 5.5 million family-owned businesses in the US. For many of these businesses, succession planning can be difficult. They are unsure of how to promote new leaders in the company without stepping on toes or causing conflict. This is why family business executive succession planning is so important. Having a formalized process in place removes conflict […]

5 Reasons for Hiring a Family Business Consulting Firm

Did you know that according to one statistic, only 17% of family business owners have been operating for at least 100 years? It’s no secret that running a family business is a difficult endeavor and hitting that 100-year mark is even more so. Having an informed business plan can help families better navigate certain patterns and understand […]