Here are some tips for business owners who are considering transferring control to a Millennial family member: • Understand their perspective....
Tips for succession to a Millennial generation member
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family dynamics
How to Feed and Grow Your Family Business
The key to maintaining strong relationships with your family is to process those relationships out loud. By sharing your strengths and weaknesses with your family, you develop a deep level of trust.
The Importance of the Perspectives of the Younger Generation
A conference for enterprising families – those in family businesses and others who had significant assets in common – included a panel of members of the next generation. These were the heirs apparent, the chosen ones who are challenged with the opportunity and responsibility to take their families’ enterprises to the next generation.
Is There a ‘Fredo’ in Your Family Business?
A Fredo likely to be the least capable amongst siblings. So when the family patriarch coddles him and looks the other way, he will do whatever possible means to take advantage of the family business for personal gain.
Communication Key to Productivity in Family Business
Many professionals tell us a family business typically outperforms a similar business that is not family owned and operated. A key reason for this productivity difference is the attention a family gives to ensure the business is capable of being economically viable today and into the future.
Yes It’s True, Trauma Can Affect Family Business
(by Dr. David Schopick, as appeared at SeacoastOnline.com) Try as we might to be professional, it can often be impossible to leave personal issues...
Never Too Late to Re-ratchet Good Family Business Practices
It’s never too late to re-ratchet into good practices. This family would benefit from establishing best practices that have been absent for years.
When Troubles with Transition Mask a Deeper Divide
The typical tenure of a CEO in a family business is close to 20 years, more than double that of a non-family business.
Recent Posts
Rob Reiner – balancing privilege vs. expectations in his art and life
The shocking killings of Rob Reiner and Michele Singer Reiner by their son, Nick, continue to reverberate throughout the country. The tragedy is a reminder of the dark side of privilege for celebrity NxtGens who must manage their families’ expectations, their own...
“Proud Mary” – one song, two dysfunctional family singing groups
A song cover is a new performance or recording of a song that was successfully performed by another artist. The power of a great song cover is that it introduces the song to a new audience by transforming the song’s emotion or style. Some of the most iconic covers...
Managing Your Mentor – Working with long-time employees in your family business
Next-generation family business leaders who are stepping into a leadership role within their family business is a significant milestone. But for many NxtGens, the transition comes with an uncommon dynamic: managing employees who once knew them as children. These...
Preserving the Heart of a Family Business. Your story is more than your success — it’s your legacy.
Every business begins with a spark — an idea, a dream, a leap of faith. Over time, that spark grows into something much larger: a shared purpose, a set of values, and a story that binds generations together. A family business is more than its products, services, or...
