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|

Creating Structure Within a Family Business

business-successAs a family business grows, the need for a well-defined family business structure becomes more important in order to keep the business growing. Once the entrepreneurial stage passes, more family business structure is required to define how the founder will interface with the business and find solutions to family business issues that arise.

Family Business, Values and Security

business-successIt's important that the family members running a business have similar family business values. The real security of family business is knowledge that the family has the same core values, and that in good times as well as challenging times, every member of the family is committed to working together in the best interest of the business.

By |2017-07-10T13:48:23-06:00November 26th, 2008|Categories: General, Uncategorized|Tags: , , , , |