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A family vacation is when you go away with the people you need to get away from.

Alfred E. Neuman
fictional mascot and cover boy of MAD magazine

TRENDING

1

Surviving Summer Family Get-Togethers

A Survival Guide for Summer family get-togethers (you know, just in case you need it or anything).

2

Habits of Highly Successful Family Businesses – Advisory Boards

Often the earlier generation in a family business rides a wave of success and everything in the business and family runs smoothly. Like a sports team, when the team is in first place the clubhouse issues are smoothed over, but when the team falls into last place, frustration builds and negativity takes over the team.

3

Succession Planning: You Lost Me at Complicated, Lengthy Process

Succession planning doesn’t need to be complicated. We all know we need one, but why is it so hard to prepare a succession plan? One of the most common reasons is the difficulty in just getting the process started.


FOLLOWING

The Family Business Intervention

“Doctor, do you think we can be cured?” This family business reached outside for help in solving a leadership issue. They were hiring too many family members in key positions without the skills or experience. Blurring the relationship lines between shareholders, management and family brought on feelings of nepotism from non-family members.

How’s that Corporate Culture Thing Going in Your Business?

Corporate culture can sometimes seem like corporate jargon with nothing tangible to point to. This article does a good job defining it with specific examples. If you read only one thing, skip down to the four types of leadership cultures. Which one best describes you?

She Didn’t See That Coming

Everything’s in play. The daughter of this founder returned to join the family business after working outside and helped formalize the structure and processes in the business. She did such a great job professionalizing the business that her parents decided to sell it.

Grow Crazy; Fast

Many family business owners are founders and entrepreneurs who learn their business skills as they go along. But then growth happens. A great take on managing fast growth when you don’t have experience in these uncharted waters. You’d think it was all about money and financing, but it’s not.

It’s the Hardest Conversation You’ll Ever Have…

How do you deal with mental illness when it’s the founder of the family business?

Did You Just Use the “A” Word?

“Accountability” is the word seldom used in dysfunctional family businesses. Family members have to be held to the same or higher set of standards as other employees. Can you say entitlement?

Get a Life! (if you want to)

If you read nothing else, the best sentence in this article is, “if the only reason the spouse has respect for the founder is because of their position, he claims that the founder will likely never retire, as they won’t want to lose the power of the title.” It’s okay to be all-in with your business, but if your only identity is with the business, then you’ll never let go. But maybe that’s the plan. And that’s okay.