It Doesn’t Make Sense to Join a CEO Peer Group When Trying to Navigate a Pandemic…
You didn’t sign up for this. People warned you about the long hours and tough decisions when you started or took over the business. But no one said anything about running a business during a pandemic! Yet here we are,… Read more→
EFBC Crash Card Template
EFBC’s Contingency Planning Crash Card Template In the event of a health emergency or sudden death, family members often scramble to locate important information and documents. This process can be overwhelming, especially when emotions are running high. To prepare for… Read more→
Roots: Best Practices to Run a Successful Family Business
ROOTS: Anchoring Your Business Course A family business, as defined by the Harvard Business School, is when two or more related people own, lead or make major decisions for the business. However, the Entrepreneur & Family Business Council sees things differently. From… Read more→
Creating a Stress-Free Environment at Work
Everyone has stress and we all have our own ways of coping with it. Supporting your employees through their stress can ultimately make them more engaged and motivated to come to the office. Here are some suggestions to get your… 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→
Tips to Prepare for the New DOL Exemption Ruling
First, a little bit of background: The Fair Labor Standards Act sets the minimum wage, overtime, recordkeeping and youth employment standards for American workers. These standards are enforced by the Department of Labor Wage & Hour Division. While most cases… 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→
Preparing for an Untimely Death
In the case study that we used to examine this issue, the family business had no succession or transition plan and the President had just been diagnosed with a terminal illness. The thing that stood out to me as I… Read more→
