Avoid These 5 Common Pitfalls During Your Succession Planning Process When Looking to Extract Value from Your Company
So, you’re a fan of “Succession” on HBO? Us too, purely for the entertainment! We never want to see a family business go through the drama that the Roy’s portray as they exhibit all the dangers of not having a… Read more→
Millennials’ Next Move: Management
Millennials – the largest generation in today’s workforce – are moving into management and are starting to create shifts in corporate culture and leadership styles.
Bridging the Expectations Gap
Seats for the presentation were divided into Rising Generation tables and the Leading Generation tables. Rising is what we would call the “next generation,” and Leading is the current generation in leadership. The tables held periodic conversations stemming from the… Read more→
Acknowledging Blind Spots: Are You Truly Prepared to Take Over the Business?
No matter how many times you’ve driven a car, you still have blind spots. As an experienced driver, you know to check for blind spots when changing lanes or pulling out of your driveway. Taking over your family business is… Read more→
A Sixth Generation Family Business Journey
Journey; also known as the best way to describe family business. Whether part of the 30% of family businesses transitioning into the second generation, part of the 12% maintaining viability into the third generation, or part of the 3% functioning… Read more→
The Who, What & How of Family Meetings
What worries you about having family meetings? “Being told what to do and disrupting the status quo.” “I’m afraid I’ll lose relationships with my family because of conflict.” “There are significant others that might impact the current family harmony.” “I… Read more→
4 Lessons Learned from Family Meetings
Having family meetings was the right thing for the right reason. We wanted open communication between the brothers and partners in order to strengthen the family and business. But most importantly, Joe and I wanted everyone on the same page… Read more→
Three Ways You’ll Benefit from Taking the TPA
85% of cases where businesses failed to transition were caused by controllable factors 90% of owners hope that their children will join them in the business 35% of family business owners have no plans to retire, ever Do you feel… Read more→
3 Steps to Healthy Family Business Communication
What is the “greater good” for the family and for the business? Is everyone in agreement? How are you communicating your family values? To answer these questions, we start with the first best practice: foster a family culture of healthy… Read more→
Is the Family Business Right for Me? And Other Important Questions to Ask
Jonathan Michael of Burke, Warren, MacKay & Serritella sat down with next generation leaders of our community to address some important questions that you should be asking. You don’t know what you don’t know and the more you can find… Read more→