Be Thankful for Founders! They Make it All Possible!

The founders of a family business make it possible for future generations to benefit from their vision and entrepreneurial spirit. A true leader inspires success. When considering succession in family business, the founders or leaders of the company want future generations to have the same level of motivation, drive and passion for moving the business forward.

By |2020-06-25T08:42:45-06:00May 17th, 2015|Categories: Articles|

Advisory Boards for Family Businesses

A properly constructed family business advisory board gives owners access to high-level executive and management talent beyond those employed by the company. Advisory boards create a forum in which active owners, in concert with other advisors, impact the strategic issues facing the company. The board makes non-binding recommendations on strategic issues.

By |2020-06-25T08:42:53-06:00May 17th, 2015|Categories: Articles|

Are You Ready for the Unexpected?

Every family faces the possibility of a key executive in the family business suddenly being taken either by accident or natural cause. Life can be fragile and no person is exempt from such forces. Strategic planning for the family business requires the family to prepare for the unexpected with the development of an emergency action plan.

By |2020-06-25T08:43:12-06:00May 16th, 2015|Categories: Articles|

Is There A Good Kind of Nepotism?

There can be advantages of nepotism. Experience has shown that nepotism works if and only if the values of the family members are congruent and the successor is fully competent. Every company needs a source of competent, dependable employees, and this is where the advantages of nepotism can come into play.

By |2017-07-10T13:52:11-06:00May 16th, 2015|Categories: Articles|

Taxes, Heartburn and Family Business

Transfer of a family business ownership from one generation to another can involve a series of complex financial transactions. In the United States, there is a limit on how much one can gift to children without paying a tax. Tax laws vary from one country to another, which is one reason a fair family monetary policy is essential.

By |2020-06-25T08:44:12-06:00May 16th, 2015|Categories: Articles|

Orange Juice and the Power of the Golden Share

When family members are not able to abide by the Power of the Golden Share, a family business can suffer. The key to success in many family businesses is abiding by the rules of International Best Practices for Family Business that include clear responsibility for positions and accountability for performance and outcomes.

By |2020-06-25T08:44:28-06:00May 16th, 2015|Categories: Articles|

Wisdom, Elders, Mentors and Friends

Family business elders often have words of wisdom for business employees. With an ability to focus on what is important for success, elders are able to concentrate on the business at hand instead of being distracted by other factors. Elders tell the stories about the business and the people who nurtured the legacy that originally allowed the business to grow.

By |2020-06-25T08:44:49-06:00May 16th, 2015|Categories: Articles|

Holidays, Family Gatherings and Family Business Protocol

There are many dimensions of family business protocol. While protocol varies from one family business to another, some of the necessary basic elements include: defining the purpose of the family business, clearly stating who owns the business, determining who is responsible for what, and committing to mediation or binding arbitration when disagreements cannot be resolved.

By |2020-06-25T08:45:07-06:00May 16th, 2015|Categories: Articles|

“How Do They Keep on Doing It?”

Family business success stories can be very motivational and inspirational. In some cases, effective business communication can make a substantial difference in the ultimate success of a family business. Clear and constructive communication and listening to what others have to say can have an overwhelmingly positive impact on any family business.

By |2020-06-25T08:45:32-06:00May 16th, 2015|Categories: Articles|

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.