At The Peer Alliance, we’ve written about a handful of issues concerning the longevity of a family enterprise. Bringing together many of the concepts we’ve addressed, Fast Company published an article today titled How Great Family Businesses Skirt The Feuds, And Other Pitfalls — an article that brought together the perspectives of multiple multi-generational family businesses […]
I applaud Jay Goltz’s article, “Is My Family Business Going to Be an Orphan?” Age 56 is a great time to address and explore the options for a transition plan. And the coincidental timing of family events- college graduation and new babies stimulated the thought process even further. Jay states, “While I have been fighting […]
Entrepreneurial Expert Steve Strauss responds today to a concern facing many in the family business sphere, hiring family members into the business and the plusses and minuses associated with taking such action. In the article Strauss addresses a business owner who hires his wife’s nephew who then develops a short-lived romantic relationship with a co-worker […]
Many who’ve inherited or are developing a family business feel the desire to pass the torch to their heirs – a task that is far more challenging than one would initially think. Research indicates that only 13% of family-owned businesses make it to the third generation. How can a family guard against this generational attrition? […]
For many in the younger generation, it can be a daunting challenge to provide the elder generation with management advice. This is a natural reaction, as for most children parents are a source of setting boundaries. Who of us hasn’t heard the phrase “who do you think you are?” from their parent when misbehaving as […]