There are several questions you should ask yourself when you are considering opening up the leadership of your family business to someone from outside of the family. What’s the state of the family in terms of leadership today? Is there someone qualified to take the reins, or is exploring options elsewhere the right approach? What […]
With each installment of our Video Blog Friday’s Series, Paul Karofsky reflects on influential lessons learned from his career working with family businesses. Each Friday, we will provide a new story with a unique topic – so stay tuned! We hope you enjoy the sixth feature in our series, When a Raise is Not Enough, where Karofsky illustrates the need to balance financial raises with the accomplishments of a family member – rather than simply “increasing their allowance.”
Differing generational perspectives abound. Last week we worked with a group of several families on the succession of their businesses. With the senior generation in one room and the younger generation in another room, each was asked to talk about desires, concerns and expectations around the process of transitioning ownership and leadership. In addition, we […]
With each installment of our Video Blog Friday’s Series, Paul Karofsky reflects on influential lessons learned from his career working with family businesses. Each Friday, we will provide a new story with a unique topic – so stay tuned! We hope you enjoy the fifth feature in our series, When Dad Isn’t Ready to Let Go, where Karofsky illustrates the importance of starting a conversation and promoting open dialog around succession planning for family businesses.
Of all the concerns we hear about from business families, none can trump “communication.” Despite the fact that we have two ears and only one mouth, all too many people believe communication is a one way activity. With clients and customers, we believe we need to tell them what we have to offer and what […]
With each installment of our Video Blog Friday’s Series, Paul Karofsky reflects on influential lessons learned from his career working with family businesses. Each Friday, we will provide a new story with a unique topic – so stay tuned!