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 ninth feature in our series, Which Comes First… where brothers-in-law are […]
Keeping your family business strong requires diligence. Let’s take a look at five best practices for families running a business together. Strategic Planning Unless you know where your business is headed, how will you know what is required of future leaders to help get you there? For some, the process of strategic planning may be […]
There are two kinds of ownership in a family enterprise. One is tangible- that’s the stock in the entity. The other is intangible. It’s the emotional connection based on history and legacy. We’ve found that this latter kind of ownership is much more challenging to relinquish. In fact, more than one acquisition advisor has told […]
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 seventh feature in our series, When Circles of Fog Block a View to the Future…, where Karofsky presents a situation where a family business must assess the ability of the younger generation to take hold of the business.