When Everyone Is a Decision Maker, No One Is: Fixing Accountability
“We decide everything together.” It sounds inclusive. In practice, it often means decisions are revisited repeatedly and no one is clearly accountable when outcomes falter.
Category: Communication Strategies
5 Tips For Setting Goals in a Family Business
The new year welcomes an opportunity to implement new strategies, create short-term and long-term goals, and set the vision for the year ahead by identifying
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,
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,
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,
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
The Challenges of Family Business Succession Planning
Many family businesses don’t actually have a succession plan. Look at preparing a family business succession plan to protect your family. If you’d like to learn
How to Adopt Effective New Policies When The Family Business Changes
Family business changes can happen as founding members step away, and new ones take over. Sometimes, firms have allowed these transitions to become volatile, leading
How Family Business Generosity Can Hurt Relatives
While there are many reasons to start a family business, generosity often is named. Specifically, the ability to bless your relatives and staff financially. Unfortunately,
Family Business Directors Don’t Lead Naturally
A misconception that people have of family business directors is that they aren’t always born with natural leading ability. Even the most accomplished executive had
