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Articles tagged: Family Business
Consensus Decision Making: How Much Compromise is Too Much?
In the decision making process, trying too hard to achieve consensus leads to suboptimal results. Consensus decision making should include the best of everyone’s input. Read More
Without Good Governance, Family Businesses Go Nuclear
3 Case Studies on the Importance of Good Governance To put it bluntly, proper governance does not come naturally for most private and family businesses. It requires leadership to understand that good governance protects the business, and is worth the sometimes substantial time and effort required to achieve it. Families will never be perfect. Which […] Read More
Lessons on Family Governance in Business
The Cornell/Loyola Family Business Roundtable brought together thought leaders to discuss business and family governance. Here are the key takeaways. Read More
Embrace the Elephant in the Room: Advice on Company Culture
As companies grow, culture can get lost. Learn to maintain company culture and embrace disagreements as more voices enter the room. Read More
The 4 Stages of the Divorce Process
Divorce is more than a legal process. It’s an emotional one, too. Read about the four divorce process steps, including the announcement and the aftermath. Read More
Family-Owned Business Transitions: The Good, the Bad, and The Ugly
Like Snowflakes, They Vary Transitions in family-owned businesses can take many forms and be challenging endeavors. From a change of control, as the torch is passed from one generation to the next, to the much more life-changing sale of the entire business, each transition comes with its share of the Good, Bad, and Ugly. Types […] Read More
Catching Up With Carrie Rosenbloom: Co-Founder and Senior Consultant at Evolve Family Business
Counseling Family Businesses Through Divorce [Editor’s Note: It has been three years since we profiled Financial Poise Columnist Carrie Rosenbloom, who is also an attorney, educator, mediator and therapist. She has since opened her own firm, Evolve Family Business, and she kindly provided us with an update.] Since we last talked, I moved away from […] Read More
Protect Your Family Business with Smart Succession Planning
Clarifying Roles and Responsibilities for Smooth Transitions In family business, a succession plan guarantees continuity. It ensures a smooth transition of leadership so that the business can carry on. Where no succession plan exists, the risk of turbulence and conflict is high. Creating a succession plan is a fairly straightforward but necessary task. It details […] Read More
So You Want to Invest in Opportunity Zones?: Think Low-Income Housing Tax Credits
Qualified Opportunity Investing with LIHTC Transactions There’s a lot of buzz on the subject of investment in Qualified Opportunity Zone Funds. Congressional sponsors were hopeful that this new tax benefit regime, created by the Tax Cuts and Jobs Act of 2017, could attract new sources of capital to under-developed neighborhoods in need of investment. But […] Read More
The Importance of a Family Charter in Family-Controlled Businesses
How to Maintain Control in Family-Controlled Businesses Unique challenges tend to arise when a family controls a business. Some questions that may emerge are: Which family member will lead the business? How will profit distributions be decided? How can a family member exit the business? Questions such as these are best handled in advance and […] Read More