What a great year it has been! Working with families in business has always been satisfying but no more so than this year! I am so lucky in that I get to work with a spectrum of families that work well together, but need a bit of help in their communication, all the way along […]
The Fear of Letting Go
In my many years of helping families explore transitioning their family business to the next generation, there is always an element of fear. This fear is multi-faceted. Fear of losing control of the company, fear of the next generation doing things differently, fear of not being needed; and a special one shared with me numerous times…a fear […]
Difficult Decisions in the Family Business
Being in business is often fraught with daily, difficult decisions. Some of these decisions are relatively minor and others can be deemed to be major. It is the major ones that have the most likelihood of disturbing the “norm” or what is perceived to be normal. The challenges and results of these major decisions are […]
4,000 Ways to Make Your Family Business Better!
Sorry to scare you into thinking this article was going to take a month to read! Okay, there might be 4,000 ways or more depending on how many articles you read about Family Business. I want to focus on #1 which is COMMUNICATION. Communication (or lack thereof) is almost always at the centre of any kind of Family […]
Conflicts in Your Estate
I always tell my clients, colleagues & friends, that the estate they leave behind for their loved ones, becomes a family business whether it was planned to be or not. This new “business unit” or your “estate” will have many issues that these “new shareholders” will face. We know they will not be trained for […]
How Does a Family Member Exit the Family Business?
This headline will certainly raise a few eyebrows I am sure. It is often a very quiet discussion that I have had more often than you can imagine with those next generation family members, and spouses who are currently working in their family business. When the husband and wife, who have most likely started the […]
Are The Holidays Stressful or Joyous For Your Family?
If you are in a family business I know this heading will make you reflect on your own family dynamics. For most family businesses the answer is “a bit of both”. For many family businesses there is difficulty in truly separating business from pleasure when everyone gathers together. While I know that this article may […]
Should I Encourage My Children To Join The Family Business?
This is a question that I am often asked by just about every family business owner(s) facing this decision. It is often hard to come up with a direct answer for so many reasons. My first response is usually the question, “What does your son/daughter want to do?” This generally begins a discussion that […]
Fair is Not Always Equal and Equal is Not Always Fair
Many of you have heard me make this statement. Fair is not always equal and equal is not always fair! What does it really mean in the world of Family Business? Why does it apply and how do we as parents accept this to be true? As parents we always work hard to maintain […]
Can We Love Our Children TOO Much?
As a parent the immediate answer is NO WAY! You can never love your kids too much no matter what their age and stage in life is. But there is a line in which our parental love for our kids creates a false sense of entitlement which will not serve them well in life. I […]