How Conflict in the Family Business Can Help it Improve

Many companies spend a lot of effort avoiding conflict in the family business. Which brings us to the question, should you allow these disagreements to happen or continue shutting them down? Many family business owners intentionally skip over details that might ruffle feathers. Unfortunately, doing so can end up causing more chaos than it avoids. […]

Why Family Business Owners Need to Feel an Emotional Connection to Succeed

It can feel shocking when some family business owners decide to step down. Other directors may not understand that they don’t have an emotional connection to the firm. Uninterested leaders can only fake their way for so long before they’ve had enough. However, it isn’t always clear when some members feel isolated and ignored. Those […]

Family Business Transitions: Who Should Lead, and Who Should Leave?

When a family business transitions to the next generation, challenges can arise everywhere. Most notably is when you’re choosing who continues to lead and who needs to leave. Unfortunately, some shareholders become fearful over the slightest changes. How can you make meaningful adjustments when they might be holding you back? We always say that open […]

Where Should You Start and End With Continuity Planning?

One of the most frequent business mistakes is ignoring the need for continuity planning. How can any successful firm establish a long-lasting legacy without designing one first? Too many future leaders feel disconnected from the brand from a lack of planning. They might feel lost, confused, and usually don’t last long within the company. We […]

Family Business Risk: What to Factor in with Decision Making

Every company balances the pros and cons of making educated choices. However, with a family business, risk can cause you to gamble away more than you anticipated. Failure always stings, but it hurts even more when your loved ones are affected. Unfortunately, not every owner thinks beyond the monetary amount before taking a risk. Our […]

How Family Business Strategy Benefits Shareholders and Relatives

When operating a family business, strategy can be reserved for competitors. There is a fair amount of juggling involved to keep everyone happy. A family business should feel like an investment made towards future generations. That can’t happen when either the enterprise or the personal side takes priority.  Not everyone can find the right balance […]

How to Address Conflicts of Interest Within Family Business Boards

Family business boards can be inherently burdened with conflicts of interest. Every decision they make attempts to benefit both the company and relatives. Yet, as the saying goes, you can’t serve two masters. Some may only put their best interests above everyone else, making them a liability. These conflicts aren’t always apparent, and they may […]

How Can Family Business Diversity Make Your Brand a Better Competitor

If there’s one topic that puts an owner on edge, it’s family business diversity. How can you maintain the spirit of the family with outside members? At times, diversification can feel counterintuitive to your training and education. However, if you only focus on what you can offer, you won’t get very far. Expanding your workforce, […]

Who Pays For Expenses With Family Business Budgeting?

When managing a family business, budgeting often leads to conflict. Specifically, when you’re determining which relatives should pay for certain expenses. Even though a family business is a great way to support loved ones, it often isn’t infinite. At some point, an agreement needs to be reached over which expenses are covered and by whom. […]

When is the Right Time to Seek Family Business Consulting

Many companies will only hire family business consulting as a last resort. Other firms rely on frequent suggestions from these experts before making any decisions. While no brand has the same journey, there are a lot of shared growing pains. That is why hiring a family business advisory service is a good idea. We support […]