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Running a family business is like having a blender that you don’t have the top for.

Anonymous

TRENDING

1

When is it time to bring a CFO into the family Business?

The event that really triggered our decision to bring in an outside CFO was a situation involving a serious fraud incident.

2

10 Ways to Make Your Family Business “Cool” (Again?)

Creating an awesome business culture just might help attract the younger gen to give it a ride.

3

We’ll Never Do That Again: Taking the Temperature of Your Family Business Culture

We thought we had pretty thick skin until we received responses from our Employee Opinion Survey.

FOLLOWING

The (Un)Happiest Place on Earth

“A family feud over a $400 million trust fund, a massive fortune that left one heiress with an inferiority complex, and a sprawling media empire. Meet the Disney family.”

You’re Not a Spring Chicken Anymore

Perdue Farms is coming up to it’s 100th anniversary and well into it’s fourth generation. In this event recap, they share some of their success strategies including engaging millennials, setting up counter-cyclical businesses, and bringing in the next generation.

Don’t Look Over Your Shoulder

Ever said “I wish I had thought of that?” You may be saying this more often. 83% of the younger generation sees innovation as a primary concern vs. only 66% of the senior generation. Does this mean the senior generation is more confident or more complacent? Yes.

People Before Profits. Yes, It Really Can Happen

Family business leaders are more concerned about hiring good talent than growing profits, according to a recent PwC survey. Family businesses are in an enviable position to attract younger talent. Their emphasis on values and ethics makes our businesses attractive to millennials and others who place a higher importance on these non-financial job benefits.

This is What Happens When You Hire Too Many Friends

I’ll admit I’m obsessed with the back office turmoil with the Los Angeles Lakers family business. In this latest round, owner Jeannie Buss surrounds herself with friend’s advice not industry professionals and it doesn’t turn out well.

Sometimes Breaking Away is Hard

There’s a reason that contentious disputes among stockholders in closely held corporations are referred to as “business divorces.” Even where relationships among the founders and other principals – who are often family members – have not yet soured, a stockholder’s exit can easily prompt a range of damaging, even ugly, quarrels among stakeholders. 

We’re Really Feeling For You…

Having to pay attention to the buoys on the commute to work is one of the hazards for this island-based family business. Running a vacation lodge and restaurant on Cabbage Key in Florida is just as good as it sounds. Jealous yet?