Your five year family business succession planning checklist

Family business - 5/28/2019

In business there are few greater questions than what comes next. This is especially true in family companies, where work is always personal, despite what management mantras might try and teach us. Su...

So... you've taken over the family firm. What now?

Family business - 7/18/2018

Two-thirds of the UK’s businesses are family-owned. That’s 4.8 million businesses in total, of which over 16,000 are medium to large businesses. The UK is a country (or rather set of countries) with a...

What does an exit plan look like?

In one of his finest post-Beatles numbers, John Lennon sang, “Life is what happens to you while you are busy making other plans.” It’s pithy and it’s pragmatic, but when you are writing an exit plan, ...

The generation game: Why you need an exit plan for the family business

In 1999, Pierce Brosnan’s James Bond received one final piece of sage advice from Desmond Llewelyn’s irascible but beloved Q. “Always have an escape plan,” he said, and with that, Llewelyn gracefully ...

How to Create Your Family Business Dream Team

In the last article we highlighted The Dream Team Model and why you need different blended profiles to grow a business, and how strong business genes can be passed on from generation to generation. In...

The Concept of DNA and How it Applies to Business

  In my last article I redefined the family business, highlighted some differences between family and non-family businesses, and explored some of the advantages and disadvantages of a family business....

The Advantages and Disadvantages of a Family Business

Family business - 9/26/2014

Before you get the idea that family businesses benefit only the family members involved, think again. Successful family businesses are a win/win. They benefit both the local and global economies, and ...

The Family Business, Defined

When you think of the term "family business," you may initially think of the mom and pop store in your neighborhood—you know, the kind of small business that supports and is run by a single family. Yo...

10 Tips That Will Make You Better at Conflict Resolution

Family business, HR - 7/9/2014

  When conflict arises in the workplace, the worst thing that you can do is to ignore it. It may start with two capable people in disagreement over little issues, but it can soon build and disturb the...

Here's Why You Must Start your Succession Plan Today

No matter the size of your business one of the most pressing issues in longer term planning for business is succession planning. Just take a look at any business, successful or otherwise, and particul...