Alan (husband): Since all the Company’s stock is still in my name, I think it’s time to revise my will and do some succession planning. I want to know that you will be properly taken care of if anything happens to me. I also want to be sure that the business can continue. Sarah […]
Attorney: Since we both have the family’s permission to discuss our thoughts about the company, I wanted to share some of my concerns with you. While the current situation appears stable, I am worried about our client’s son and his long term ability to carry on the family business. Accountant: I share your concern. […]
My last blog about the old bull received great feedback, and several readers asked for more. So here we go. What’s this aging process all about? Eyes, ears, and other organs not working quite the same way they used to. Wrinkles and sagging body parts, all the result of the power of gravity […]
Why is it easy for some managers to criticize others, yet so hard to offer praise? It doesn’t seem that a simple “Thank you. You did a great job on that project” is so difficult to say. Perhaps Mom or Dad never gave enough recognition to a deed well done. Not sure about why it’s […]
Dad: Look, Richard, we’ve had this conversation before. You can’t keep coming in late! Richard: I don’t understand why you’re so angry. You know I’m not a “morning person” and I was up with the baby again. It’s hard for me to get up so early every day. You’re the first one in every […]
The term, “Emotional Intelligence” was coined in 1990 by John D. Mayer, a personality psychologist at the University of New Hampshire. Much of its recent popularity is credited to the bestselling book Emotional Intelligence 2.0 written by Dr. Travis Bradberry and Jean Graves and TalentSmart, which markets itself as “the […]
Jeffrey:Okay, Dad, so he’s your brother. But does that mean we have to put up with inferior work and an erratic schedule that we would never tolerate from anyone else in the business? Henry:I know you’re responsible for our Quality Program, but how can I get you to understand? Jeffrey:Not only doesn’t he […]
The typical tenure of a CEO in a family business is close to 20 years, more than double that of a non-family business. And while many family business CEOs love what they do, have a deep sense of stewardship and are eager to train their successors, there are others who feel trapped. For them, it’s […]
We’re frequently asked, “When should we start planning for leadership succession?” Our answer is one word: “Now.” The potential for conflict in the transfer of leadership from one generation to the next is too great to leave planning to the last minute. What stops senior leaders from laying the groundwork for this transition? Most […]
For over 25 years, we’ve been helping family members in business together achieve sustainability, typically involving the transition of leadership and ownership to the next generation. Most often, it means helping members of the younger generation “take hold” and attain the competencies of leadership, and helping seniors plot a new phase of life, retiring from […]
