Family business

Hopefully, because they can both support and undermine the family of owners. This is not new knowledge. Still, many family businesses could benefit from focusing more on how the owners feel about each other. Strategies for development and operations are important, but they don't do it alone. Organizational work also only goes so far, and the same...

You may disagree. But read what I mean and you'll probably end up agreeing with me. Because yes, you can get the next generation involved in the family business from an early stage in their upbringing. And yes, many of us would like our talented children to take over the business...

It's easy to imagine situations where not everyone in the owning family should have a say in the running of the family business. For example, if discussions in the extended family often turn into arguments, and well-intentioned contributions tend to take the form of untimely interference, then it may be best to 'fence the business in' so that only the shareholders, board of directors...

You've probably heard this statement before. But is there any truth or value in it when we're talking about the relationship between members of the owning family who are at different points in the family business management hierarchy? The answer (unfortunately, some might argue) is a categorical no! In the short term, it might seem easier to act on...

But we need to listen to them and not force a future in the company on them. It's a fact of life. Very few family businesses make it to the 5th generation. And unsurprisingly, it's the generational change that is critical to the future of the business. Not all family businesses benefit from staying in the family. But if you...

It often takes many disciplines to run a successful business, so when a company needs advice, it's not surprising that it requires input from several types of advisors. This is not only true, but especially true when it comes to family businesses, where tough business meets fragile relationships. Is an advisor (perhaps in...

I don't. He or she exists only in his or her self-awareness. Of course, the skilled management consultant comes with skills, strategies and tools that have been proven to work - and an infectious belief in the cause. But the advisor must also possess: ✅ humility, ✅ curiosity and ✅ the ability to listen. Advisors can have different...

Hopefully, the answer is a resounding yes. Family businesses have a unique opportunity to execute long-term strategies that are 100 percent value-based. Strategies that can make your company a pioneer in an area that matters to customers and society. In companies with a lot of new faces at the AGM, there is a risk that the numbers...

It is a fact. Many family businesses have had serious internal disputes within the owning family - and yet the business has survived. The British monarchy is an extreme example: Queen Elizabeth I and her cousin, Mary, "Queen of Scots", were staunch opponents. They never met, but Elizabeth made sure Mary got her head chopped off after Mary...

Explanation follows. A family of owners has very little chance of finding the right family counselor if there is a high level of distrust in the family dynamics. Even before the counselor is brought in, there is a lack of trust between family members. And if some of the family members start to distrust the family counselor, the family just has one more problem...