Collaboration: Agreement On Methods And On What “Privacy” Means

After 20 years of being friends and being familiar with each other’s work, Dr. Jaffe and I were able to use our particular strengths to help solve some thorny issues, without stepping on each other’s toes or working at cross purposes. We shared information and we innovated together because we had agreed on our methods and we understood the enormity of the need for absolute confidentiality.

Family Business Employment Policy: Individuation

This discussion relates to the second half of the Philosophy section developed by the Wilson family. As you review the elements below, I encourage you to think about the discussions the family must have had in the process of arriving at the statement.

By |2020-06-25T08:07:51-06:00June 1st, 2018|Categories: Articles, Family Relationships, Family Values, General, Managing Family Business|

Part Two: Family Business Employment Policy: Philosophy

This discussion relates to the second half of the Philosophy section developed by the Wilson family. As you review the elements below, I encourage you to think about the discussions the family must have had in the process of arriving at the statement.

By |2020-06-25T08:08:10-06:00May 15th, 2018|Categories: Articles, Family Relationships, Family Values, General, Managing Family Business|

Part One: Family Business Employment Policy: Philosophy

The process of building this policy required a great deal of discussion among the Wilson family. They needed to articulate who they were and what they stood for, and then they had to craft a statement that would work for them.

By |2020-06-25T08:08:29-06:00May 1st, 2018|Categories: Articles, Family Relationships, Family Values, General, Managing Family Business|

Family Business Employment Policy: “The Rules of Engagement”

Every game, including the “Game of Life,” has rules of engagement. Family businesses are best served when they clearly define the terms and conditions of employment for family members and for non-family.

When you are born into your family, you are accepted unconditionally. The love of your family is unconditional. At least, that is the way it should be.

Employment in a business is different from membership in a family. Regardless of the ownership structure, all businesses require competent employees in every position. Acceptance in the business must be conditional, based on competence and the ability to produce and perform at a consistently high level. If a person is less than competent, they simply will not meet that standard.

This blog is the first in a series on Family Business Employment policy.

What follows is the first blog in the series. My focus is the theory behind each section of the employment policy. This policy is drawn from an actual policy designed for a real company. The universal principles are excellent and applicable to all family businesses. This policy was developed in the mid 1980s and the principles underlying it are the “gold standard” of all family employment policies. Any family business policy worth its salt will have the components of this policy. The policy can be read in full at:
https://www.familybusinessmatters.consulting/wp-content/uploads/2017/08/familybusiness.pdf

The policy begins with a statement of purpose, establishing the fundamental reason for the policy:

To remove the ambiguity about the matter.

“The purpose of this policy is to define the procedures, process and criteria that will govern how the Wilson family lineal descendants and/or their spouses enter and exit the family company’s employ. (Note the clarity of including spouses as employees. Some families do not permit this.)

This employment policy is intended to remove the ambiguity […]

By |2020-06-25T08:09:09-06:00April 1st, 2018|Categories: Articles, General, Managing Family Business|

Eloquent Advice For Families in Business – A Letter From a Mother to Her Sons

Letter WritingWriting a letter that expresses business advice from the leader of a family business to the successors of the business is an excellent method for examining what is truly important. This exercise allows the family business leader to reflect on the values of the family, review past challenges and provide invaluable family business advice that will provide beneficial guidance.

Is 10,000 Enough?

The 10,000 hour rule summary implies that it takes a minimum of 10,000 hours of focused effort to develop a skill and even more to get to the point where others call a person gifted at that skill. In a normal job, a person works 2,000 hours in one year, and 10,000 in five years.

The Little Red Book of Family Business Published in Turkey!

The Little Red Book of Family Business, a compilation of quickly digestible ideas and tidbits about working and thriving in the complex world of family business, has been translated to Turkish and published in Istanbul. The book focuses on a set of ground rules that define expectations for how family members will function in a family business.

By |2020-06-25T09:04:04-06:00July 25th, 2012|Categories: General|

“Because I Said So” is Not a Corporate Governance Structure

business-successA corporate governance structure is a collection of customs and policies that affect the way a corporation is administered. This type of structure provides an internal discipline on how family and non-family members function within the business. A corporate governance structure helps professionalize the way a family business operates.

Defining Boundaries

business-successThe process of family business strategic planning involves establishing and defining boundaries and maintaining specific roles. Failure to define boundaries between family and business often lies at the root of many family business problems. Family business boundaries need constant maintenance if they are going to do the job for which they are intended.

By |2017-07-10T13:48:22-06:00June 30th, 2010|Categories: General|

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.