The Journey Towards Governance for a Family Enterprise: Aligning Multiple Values and Priorities to Develop Family Capital

The Journey Towards Governance for a Family Enterprise: Aligning Multiple Values and Priorities to Develop Family Capital

In addition to legal, financial and business advice, advisors are increasingly asked to help the family create policies about personal relationships, conflict and differences in an increasing pool of relatives, aligning goals and values, learning to work together as a cross-generational family team, and making fair and effective decisions that serve the long-term interests of the family.

Succeeding Against All Odds: Lessons Learned from 100-Year Business Families

Succeeding Against All Odds: Lessons Learned from 100-Year Business Families

Very few family businesses survive across generations to become 100-year family enterprises. I’m involved in an ongoing research project that’s gathering the collective wisdom of inter-generational families who’ve sustained shared family values and identity, along with partnership over successful business and financial ventures over three or more generations.

We the People, to Form a More Perfect Union

We the People, to Form a More Perfect Union

Who needs a family constitution? The future harmony of your family and continuity of your business may well depend on going to the trouble of writing one.

Six Dimensions of Wealth: Leaving the Fullest Value of Your Wealth to Your Heirs

Six Dimensions of Wealth: Leaving the Fullest Value of Your Wealth to Your Heirs

This article explores six forms of wealth that families can pass on to their heirs: spiritual, financial, human, family, structural and societal capital. It defines the practices that add value to each dimension and how financial planners can help family members add to their pool of family capital.

From Child to Citizen of the Family Enterprise: The Five Act Family Drama of Next Generation Development

From Child to Citizen of the Family Enterprise: The Five Act Family Drama of Next Generation Development

After achieving success creating a valuable family business, the wealth creating generation of a family often turns its attention to the next generation. They don’t want their assets spent excessively or frivolously by their children. Rather, they want their children to become responsible young adults who are ready, willing and able to take control of the family’s assets.

United We Stand – Transition to Third Generation in Family Business

United We Stand - Transition to Third Generation in Family Business

The grandchildren of entrepreneurs must pull together to overcome the governance and succession issues that cause nearly ninety percent of family businesses to fail by the third generation.

Guiding Governance: Clarifying the Practice of Family Enterprise Governance

Guiding Governance: Clarifying the Practice of Family Enterprise Governance

A wealthy family cannot function truly as a democracy since certain family members may need to be responsible for some decisions as owners, fiduciaries or elders. Yet there are serious long-term risks in one person holding all the reins of power. Finding the best middle-ground for decision making in the family requires setting up healthy mechanisms to balance the twin goals of inclusiveness and leadership.

Succession Begins on the First Day of Work

Succession Begins on the First Day of Work

By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases.
Load More Posts