Family Business Matters

Family Business Matters global columnists cover a range of NxtGen topics from their unique perspectives.  

The Business of Fathers and Sons

Originally Published - ChiefExec Coach When I was 16 years old, I didn’t learn to drive stick shift from my father. Although I knew my father could drive a manual transmission, it was one of my friends whom I asked to teach me, whom I knew wouldn’t get upset with me for grinding the gears […]

Mindfulness for Salespeople

Originally Published - Selling to the Point Companies such as Aetna, Google, General Mills,  SAP, and many others are adding mindfulness training to their employee well-being programs. Research has shown mindfulness training leads to significant improvements in employee absenteeism rates, turnover rates, stress reduction, and overall wellbeing. Employees practicing mindfulness have also reported more creativity and […]

Brothers With Vision — Seeing an Eyewear Future

(by Ankita Varma writing for The Straits Times) Brothers Silas and Shamus Hwang could have coasted on the success of their family's eyewear business, but instead, they decided to take a risk - revamping the company and launching a new brand. Their minimalist eyewear label O+, which entered the market just three years ago, is […]

Family Business Confidential: Classic – Billings Horn

Family Business Confidential celebrates the role that Family Businesses play in the community as well as the impact on the lives of the Family members.  Family Businesses come in different sizes, industries, family members and longevity.  Despite the differences, the common feature is that growing up as part of a family business impacts how you […]

The O’Malley Family and the Dodgers

The Los Angeles Dodgers are in the World Series again for the first time in almost 30 years. Today, the face of the ownership of the organization is well-known to most as former Los Angeles Lakers legend Magic Johnson. But back in 1988, the last time the Dodgers won the Fall Classic, the ownership of the Dodgers was firmly in the hands of one family business: The O'Malley Family.

Art for Art’s Sake – Art Market Update

Welcome to NexGen Nexus' newest column, keeping you up-to-date on all things art market-related. I would argue that the last year wrought more changes to this sector than the entire last decade! On the auction front, there was the extraordinary dead-stop to sales at the start of the pandemic last Spring, followed by the quick adoption of […]

What’s best for business – Family firms vs public companies

(by David Birnbaum for Just-Style.com) In 1606 the British Government granted a charter to the Virginia Company of London – thus creating the world's first publicly listed multinational corporation, while at the same time beginning a 400-year debate between family firm and professionally-run corporations. This was the age of enlightenment, and the joint-stock company became […]

Planning Your Family’s Declaration of Independence

Originally Published Steve Legler Family Business Guide This week we’re going to go over some old ground, and cover some things that are brand new to this space. There’s an “A-Ha Moment” involved, as well as a new way to attack an old problem. One thing most regular readers will recognize is that we’re once again […]

Is your family business ruled by command-control culture?

The dynamism demanded by volatile, uncertain and complex markets and environments brings great challenges to organizations and, in particular, to traditional family business. Agile responsiveness guided by uncertain decisions becomes part of the corporate daily life previously guided by the old idea of ​​control that was reflected, in the past, by rigid goals, fixed long-term […]

Dis-Covering your Enterprising Family

Originally published Steve Legler Family Legacy Guide Business families, or “families in business”, as they’re often called, come in all shapes and sizes.  Advisors who work with them, like me, sometimes have trouble agreeing on the labels that we should be using to identify this segment of society. Recently, a term that’s been garnering some […]

A Family Business Guide to Managing an Exit Strategy

(written for and by Consultancy.uk) Being part of a family business does not come without its challenges, however, family businesses also provide a wealth of benefits for individuals and the wider economy. Despite this, working with family members is not for everyone, therefore, it’s important to have an efficient exit strategy in place for when […]

Opportunity Zones May Be Worth Your Time… Now

If you have recently had any type of capital gain event…. If you appreciate tax efficiency… If you believe real estate values generally increase over time…. If you are interested in how all of this can dovetail with socially responsible investment… It may be worth your time to look seriously at Opportunity Zones, especially now […]

Why Fresh Eyes Are Key for Family Businesses

(by Gene Rebeck writing for Twin Cities Business) Every family business is different, yet they all share many of the same challenges. And most of those challenges fall under one category: the future. With headquarters in North Mankato, Coughlan Cos. has passed through many futures since its founding in 1885. It began as a quarry […]

When to Sell Your Family Business

A family-owned business, or any other business for that matter, can only be sustainable if its assets are used in a manner that’s productive, and returns value and satisfaction to the various stakeholders and the family.

Family Foto: Helms Bakery – Transformation of a Vintage Los Angeles Family Business Institution

For next generation Angelinos, Helms Bakery is a mecca of modern furniture and design and a leading corporate citizen serving the educational and cultural needs of Culver City. Since 1972, Walter N. Marks, Inc., a 4th Generation Family Owned Business, has lovingly restored the historic structure and its famous Helms Bakery rooftop sign.

Please, we are family, we don’t need Human Resources

We all get along. We all listen to Dad or Mom. We don’t need HR at our family business. Wrong! HR is a necessity and Keri Ohlrich, PhD of Abbracci Group offers us advice on the first step of understanding what you actually need in terms of HR. If you’re like many family business owners, you might say, “I have low expectations of […]

Are your debt investments working for good?

In the last post, we talked about where the money in your savings and checking accounts are parked. We also touched on credit cards that have a positive impact. But we’re just at the tip of the iceberg! Over the past few years, a dizzying number of ESG or impact-oriented investment products have emerged on […]

What? You Don’t Want to Run the Business? 

Ah…complexity. Like any business, those that are family-run have their own unique challenges. In particular, planning ahead for who will take the reins when the time comes to do so. Do you have your children vying to run your business? Maybe you have an “Empire” or “Dallas” type situation happening? Or perhaps you have a child who begrudgingly accepts running the business as in “Arrested Development”? Or maybe […]

It is Personal – Very Personal

One of our most common catch phrases these days is, “It’s not personal.” We all understand the words, and the obvious definition is that “it is not about you.” And that begs a question – who is it about then?

OPPORTUNITY ZONES: The 411

Despite and maybe even because of COVID, Opportunity Zones are front and center in the investment world. The wealthy have the ability to make long-lasting impact on our nation’s marginalized communities and to do so with unique financial benefits. If done right, investing in Opportunity Zones will be a win for all. Some Opportunity Zone […]

Wealth Transfer and Family Conflicts

Estate planning is both a practical and emotional process. Often with children and inheritance the idea of when and how to give our money away can make us feel uneasy. It evokes various feelings and highlights our relationship with money, with our children and ourselves. Nonetheless, in today’s world, the complexities of estate planning require […]

Ambidexterity: the best way to strategize your family business

Family business are constantly ‘accused’ of being slow on strategic decisions and oriented to personal interests. Well, of course, there are some examples like that, but they are not enough to allow us to generalize this perception. Following an evolutionary perspective, companies who have grown and sustained themselves for decades have to be especially good on […]

Let your checking account be your Guide. A Call to Action

In my last post, I described responsible investing broadly. I shared an orientation and some key definitions, a lay of the land, so to speak. We learned that there is no single approach to Responsible Investing, or a single term to describe it. Broadly, it’s an investment discipline that considers environmental, social and corporate governance to generate long-term competitive financial […]

Liberating the Family Business

Scholars, researchers and consultants agree on the uniqueness of the family business and its predominance in the world market. Despite this recognition, a wide void emerges as a legal and financial well-defined differentiated entity.  Although, countless endeavors have been taken the road to draw up the right definition for the family business; some prevail family over business, or vice versa. […]

Go to the Hoop with Opportunity Zones

We were tied but poised to go on a 20-2 run of pure domination to start the second half. Then COVID killed the power. The game clock kept ticking but game play froze…    If the Opportunity Zone (“OZ”) investment game were like a basketball game, that’s how things felt in early 2020. When COVID hit, player confidence and purpose gave way to fear and apprehension: It can’t stay dark forever can it? Have the rules changed? Today, savvy players are still moving slowly around the dimly-lit floor getting in position for […]

Communication Breakthrough – True Family Angst

"Dr. Lami this has gotten way out of hand!" said Joel, the 3rd brother amongst the four brothers sitting in my office. “I cannot say anything to Max without him bringing up the past into our conversations and shoving it in my face. I am the CEO now and he keeps reminding me of things that I said or did […]

Think About it Dad

Hi, my name is Renata Barcelos and used to be a family successor of a medium size company from Brazil. But this is not the why I am here, writing for you. I am sharing my ideas in here because myself, as some of you, had a very difficult time in the family business. Difficult […]

What is EntreLeadership you may ask?

It is a term coined by Dave Ramsey, and he even wrote a whole book on it which I thoroughly recommend! In his book, Ramsey explains that success in businesses is hinged on both entrepreneurship and leadership. I love the term! And I’m jumping on the bandwagon, as I believe it aptly describes the critical […]

Why Exceptionalism Matters?

Despite our turbulent, ever-changing world, which has turned upside down since the global pandemic started earlier in 2020, I remain optimistic and pragmatic. I have been reflecting a bit lately...  “Full Sail Ahead” was the theme of one of the eight annual Forbes Global CEO Conferences to which I was privileged to be invited and that I […]

They’re showing us the money! What do we do now?

I’ve built my career in responsible investing, a term that broadly means doing well by also doing good. I got excited about capital markets early on when I realized philanthropic and government funding are not sufficient to solve a lot of our biggest social and environmental challenges. That was over a decade ago. Now, I’m […]

Why We Need to Maintain Family Traditions

Tradition is one of the most beautiful ideologies we have created and experience as living and loving humans. There is no cookie cutter outline for what your tradition should look like, who you should share it with or how it should grow over time.

Avoiding Burnout in the Family Business: Advice for Millennials

Having the legacy of generations of family business owners before you can put a lot of pressure on a Millennial. Writing for Entrepreneur.com, William Bauer, Managing Director of ROYCE New York Monogramming & Leather Goods, offers some advice on how to avoid burnout. At social gatherings (the very few I actually attended), I would usually […]

What To Do When Your Children Are Your Direct Reports

Originally Published - ChiefExec Coach Family-owned businesses are much more than just the oldest form of economic organization. They may actually be the most important to today’s economy! According to the U.S. Bureau of the Census, about 90 percent of all businesses in America – roughly 5.5 million – are family-owned or controlled. More than […]

Grandfather inspires family business

Jennifer Huffman - Napa Valley Register Ken Mattson said that the pest control business is in his blood. “My grandfather Corky Mizer started Corky’s Pest Control in the Bay Area 51 years ago,” Mattson explained. It’s now one of the biggest pest control companies in Southern California. At one point this Napan and his sister […]

Peachey’s Baking – Growing family business draws doughnut fans across the country

Grier Ferguson - Business Observer During the Sarasota County Fair, long lines regularly formed in front of the Peachey’s Baking Co. stand. But lines snaking around Peachey’s tent and truck anywhere, really, aren’t an uncommon sight. The promise of doughnuts dripping with glaze and pretzels sprinkled with salt can be hard for fairgoers to resist — even […]

Family business readings: Soft preconditions for robust family trusts

(By Prasad Kumar for Business Today) Arising out of my consulting experience in helping family firms with family governance, charters and so on, I have a few learnings to share with Family Business Owners, Family Business Advisors and Trust professionals. While wealth consolidation, protection and transfer is the central and obvious agenda, many associated "softer" […]

10 Companies You Didn’t Know Were Veteran-Owned Businesses

 Samantha Reeves - VeteransUnited.com Frequenting veteran-owned businesses is a great way to show support for returning service members and their families. But it’s not always easy to know whether a business – big or small – is veteran owned or operated. There certainly are a lot of them: The National Veteran-Owned Business Association (NaVOBA) estimates there […]

Pin It on Pinterest