The Huffington Post had a fantastic article today titled Mompreneurs: Best Friends & Business Partners. The article tells the story of two young mothers who started “Capital City Mamas” — a family business focused on providing resources for moms and moms-to-be in the Washington D.C. area. The key lesson these young moms face: balancing a […]
For those of us who mix family and business, we’re aware that there are both benefits and costs to taking this route. If the national economy is any indication, the benefits outweigh the costs — with roughly 62% of the GNP in the “Western World” coming from family enterprise. To stay on the benefits side […]
Germany is widely regarded as the most stable economic country within the Eurozone — and the most stable segment of their economy? Family Enterprise. The institute for Small Business Research in Germany, a resource for Family Businesses and other small-midsize companies, conducted an independent study of 400 family-run companies turning over more than €50 million […]
Boston, and Massachusetts to a larger extent are both economies that flourish on the success of family enterprise. The GDP in Massachusetts is 80% driven by family enterprises with over 30,000 family businesses in the state. It should come as no surprise then that Bill Belichick’s son, Steve, has joined the “family business” of the […]
On May 2nd, David Karofsky and Mike Moegelin hosted The Peer Alliance kickoff event — introducing the concept of Forums for Enterprising Families to a select group of family enterprise leaders. The event brought together a group of New England’s enterprising families to network with one another, learn more about how forum is a powerful tool for […]
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 […]