Family Business Councils: What Role Should They Play?

As time goes on, the role of the family business council will change. That can occur as a planned intention or as a reaction to new problems. Like any company, it’s best to account for perceived threats before they happen. Change can become turbulent when members don’t understand their roles. In this blog we offer […]

Family Business Education and Preparing Your Future Leaders

When you’re discussing your family business, education might not be a top priority. However, if you want to see your firm last a lifetime, it’s an important step to consider. The education we’re referring to goes above a college degree but instead more focused on practical training, which allows for smooth transitions. It’s also best […]

How Charitable Donations Can Feel Rewarding With Family Business and Philanthropy

A big primary reason for many in starting a family business is the ability to make charitable donations. Many philanthropic organizations begin with entrepreneurs who want to improve their community. That doesn’t mean that every family brand has the capability to invest in others. It’s best to determine what you can offer that doesn’t feel […]

Effectively Nominating New Board Members with Continuity Planning

All aspects of continuity planning are essential, but effective nomination guidelines are a priority. Without a roadmap guiding you towards your best candidates, you could ultimately elect the wrong directors. Your family business may take a wait-and-see approach, adopting reactive policies. Instead, it’s best to be proactive with clearly defined guidelines. Our family business consulting […]

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 to failure of the company. Some family governance boards want things to remain the same, while others eagerly embrace change or want to see some changes. No matter which group […]

Family Business Succession: How to Onboard New Directors

Foundations often think of family business succession as a future problem. Many companies frequently add new directors to existing boards, which makes preparation vital. As a family business grows, so must its leadership by including independent members. However, keep in mind that it can tank a company’s survival without effective continuity planning. Our family business […]

Why Family Business Success Hinges on Great Governance

Many clients want to know why they aren’t seeing growth in their family business. Success continues to evade them, even when they think operations are smooth.  Unfortunately, many brands fail to identify problems with Family Governance members. These individuals may believe they act in good faith, not knowing their impact. When your board fails to […]

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, there can be too much of a good thing, and this is one of them. More than one family business has gone under from giving away too much. Part of […]

Prepare the Next Generation Now With Family Business Team Building

When we speak with a family business, team building is often not a priority. Little do they know that these activities help prepare future generations. This becomes more important now than ever before with such a diverse labor force. Some firms even have several generations working at once, but few benefit from their experiences. That […]

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 to learn the process first. Too much pressure is placed on those who are expected to act as natural-born leaders. By failing to have some mystical insight, they’re often voted […]