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Articles tagged: Family Business
6 Ways to Manage Family Wealth and Create Your Family Legacy
Your family legacy depends on managing family wealth and relationships in a way that fulfills a common mission. Six tips on creating your family’s purpose. Read More
How to Create a Family Business Charter
Successful family businesses often create a Family Charter or Family Business Constitution—a written agreement to guide decisions on boards, succession, hiring and more. Read More
Not Making Business Decisions = Making Bad Business Decisions
When Werner Co. faces growing pains, its president avoids making business decisions that could jeopardize the company—but his inaction is still a decision. Read More
Breaking Up Is Hard to Do: Surviving a Business Divorce
A business divorce is sometimes inevitable, but it can be avoided. Precautionary measures and written agreements can aid in resolving partnership disputes when they occur. Read More
Building the Best Strategy to Drive Cash Allocation
Do you have too much cash on hand? Cash allocation decisions are some of the trickiest for small businesses to face – make your cash work as hard as you do. Read More
How Family Business Succession Planning Becomes Succession Implementation
Family business succession planning requires discussions about ownership, leadership, payment and other issues to smoothly transition from Gen 1 to Gen 2. Read More
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