Creating the “Elegant Agreement“

The most beneficial type of family business agreement is one that is grounded in integrity. It's important to take the high road in regard to family business, which means it's more important to do what is right in order to avoid the break-up of a family. Preserving relationships is essential for the future success of a family business.

By |2020-06-25T08:47:45-06:00May 14th, 2015|Categories: Articles|

What is the “Glue“ That Holds Your Family Together?

Family business dynamics play an integral role in the potential for ultimate success in business. Qualities that impact the potential for success and continuity of a family business include: shared values, shared power, traditions, willingness to learn and grow, the maintenance of relationships, genuine caring, mutual respect, assisting and supporting one another, privacy and boundaries.

By |2020-06-25T08:48:05-06:00May 14th, 2015|Categories: Articles|

George Vanderbilt’s Vision

When a successful family business sets the stage for future heirs, the possibility of family business opportunities can be numerous. A successful vision for the future often includes using new and improved methods, being willing to take risks, committing to innovation, focusing on community service and being committed to uncompromising quality.

By |2020-06-25T08:48:41-06:00May 14th, 2015|Categories: Articles|

Willingness, The Beginning of Healing

Family business case studies can be excellent source of guidance. Many case studies reveal that the success of a family business often comes down to the willingness of the individual players to find a workable solution to issues and problems. An unwillingness to work together is often the reason for the demise of a family owned empire.

By |2017-07-10T13:53:19-06:00May 14th, 2015|Categories: Articles|

What it Takes for a Successful Family Business to Be Viable

In order for a successful family business to be viable, the owners of the business must be in agreement and alignment on important matters. Additionally, business owners must see eye to eye on the vision and action plan for the business. A family constitution and shareholder agreement are also vital for a successful family business to function well.

By |2020-06-25T08:49:25-06:00May 14th, 2015|Categories: Articles|

What Happens When Families Learn Together?

Family business education includes a willingness to learn together. Communication is critical to the success of a family business. When a family is able to learn communication skills and other concepts, and brings the knowledge back to the rest of the family, the chance for future success is likely. Families that learn together are always looking for ways to improve.

By |2017-07-10T13:53:19-06:00May 6th, 2015|Categories: Articles|

Trust and Family Business

Effective family business communication involves trust and an exchange of ideas. Trust always involves two tangible functions: character and competence. The most prevalent reason for the failure of a family business is poor family dynamics. Most critical issues facing family businesses are related to values, relationships and personalities that change over time and require both psychological attention and adjustment.

By |2017-07-10T13:53:19-06:00May 6th, 2015|Categories: Articles|

Happiness Advantage Part 4: Social Investment — Why Social Support is Your Single Greatest Asset

To build good working relationships, family business support is essential. Making social investments in one another is one way to help accomplish a good work environment. It's important to be enthusiastic, make positive comments, introduce new hires to all family members and other employees, listen to other people when they talk, and express gratitude.

By |2020-06-25T08:50:01-06:00May 6th, 2015|Categories: Articles|

Happiness Advantage Part 3: What Does Oxytocin Have to Do With Family Business?

Positive family business relationships that promote love and support are a critical factor in the long-term success of the family business and the family itself. When there is a social investment in the family business, it is reflected in the success of the business as well as the level of satisfaction among employees of the business.

By |2020-06-25T08:50:29-06:00May 6th, 2015|Categories: Articles|