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Every family has one weird relative, if you don’t know who it is, then it’s probably you

Anonymous

TRENDING

1

Is Your Resume Ready?

Everyone thinks working in the family business has lifetime job security.

2

Creating Your Team – Are You a Founder or a Leader?

When we start up our family businesses we know all the answers and seldom seek advice. But then growth happens.

3

It Can be Lonely at the Top of a Family Business

Leading a family business can sometimes feel lonely and isolating.

FOLLOWING

A Family Business Coup at WeWork

While the family was spending the weekend in the Hamptons, WeWork’s largest investing partner and board were plotting an ouster of the founding family.

For Halloween I’m Dressing Up as an Entitled Son

If you’ve ever bought or rented a Halloween costume online, there’s a good chance it came from this family business.

This is Why You Have to Cheer on the Nationals in the World Series

The Washington Nationals baseball team is very family-owned. When Ted Lerner met with Bud Selig, the MLB Commissioner, he brought his whole family. As of this morning it was the family-held Washington Nationals leading the Houston Astros up 2 games in the World Series.

Keeping 7 Sets of Financials

7 degrees of family business profit. How you define profit doesn’t really matter. You need to understand the other stakeholders perception of profit to manage your business best.

Kid in a Candy Shop. Literally.

“When I see friends after work, they always say to me ‘Oh my gosh, you smell just like Smarties.” There could be worse things to smell like. The family-owned Smarties Candy Company just turned 70 years old. Admit it, don’t you wish your family business was a candy company.

Hitting Your Children Up for a Loan

When the retail store Forever 21 ran into financial problems the owners of the family business turned to their daughters for $10 million to keep it afloat.

Where Are You in the Lifecycle of Your Family Business?

Love this article about the gradual professionalizing of the family business as it grows through the different stages. Especially the ending where it mentions the importance of balancing professionalization with staying agile and not letting bureaucracy creep in.