Mom and dad won't talk
If I were having a conversation with the next generation member, a question I would want to ask is this: What did you and your parents agree to when you took the job?
Getting started with family governance
Family governance is a process or structure to educate and facilitate communication between family members.
15 lessons family councils wish they knew before they started
Whether you are just starting a Family Council or have had one for years, much can be gained by considering the lessons others have learned in making their Family Councils work.
Most small-business owners aren't planning ahead
Some avoid succession planning because they don't ever expect to fully retire or, like many people, haven't come to terms with their own mortality.
The next generation of wealth planning
As family dynamics change, the wealth planning paradigm is likely to shift.
Business in the blood
The "Lucky Sperm Club", as Warren Buffett likes to call it, is still going strong in the commanding heights of business.
Beyond 'cohesion': Why terminology must evolve through the generations
The word "cohesion' has become a hot term in the family enterprise field.
5 reasons why you're not creating an exit plan for your business
When your retire, what do you want to do with your business?
Are Canadian farmers ready for the succession challenge?
The number one reason for lack of progress in farm succession planning is that farmers' fear of losing their identity.
The most valuable thing you can do with your time
Selling your business is a process, not an event.
Family business leadership: The importance of versatility
A family business leader who is truly versatile is able to be strategic and operational; forceful and enabling.
Who makes the decisions?
An ancient proverb decrees: if you wish to know what a man is, place him in authority.
I've got forty years in harness; how do I exit my family business?
More and more, smart family business leaders are keeping their options open when it comes to transitioning their companies into a new generation of leadership.
The circle of life works in family business
"It took me six months to figure out why I was so happy"
Developing next generation leadership
Effective leadership of a family business encompasses much more than making business decisions.
Crossing the line of confidence
Enabling effective governance requires not only a qualified driver, but also a well-equipped communication vehicle.
Simplify the process
It's not difficult to understand why business owners hesitate to start planning the transition of their business.
Governance beats avoidance for long-term family business harmony
In their efforts to prevent family disharmony many business owners actually exacerbate the problem by taking actions that remove family from the process.
The three areas of capital
When entrepreneurs embrace the concept of stewardship and actively walk the talk, the fear of letting go can be greatly minimized.
Ensure you have a choice
When it comes to preparing for your inevitable sale, the ultimate objective is to build a system that eventually sees the day-to-day decision-making pass from you to one or more persons within your business.
Keeping family "out" of the family business
As difficult as this may seem to resist inviting family members to join the business, in the long run it can help keep family relationships intact.
Exiting the business highway
Planning a business transition is like managing any other project except that the outcome of this project is critical to the future of many people.
How long do you plan to travel the business highway?
Are you proactively preparing a successor who will enable the continuity of the company?
The interim CEO ~ A place marker for postponing the succession plan
As founder you have done all the right things to pass the business along to your children.
Tips for boomers looking to hand down the family business
Baby boomers who started their own small business and are ready to hand over the reins should choose their successor with careful thought.
Passing on the business to the next generation
The phenomenon of thousands of business owners planning to retire and transfer ownership of their businesses will have a major impact on Canada's economy as a whole.
How to build a sellable business
An interview with John Warrillow.
Ten barriers to business succession planning
In a presentation at the University of St. Thomas Center for Family Enterprise Family Business Forum, John Davis, family business consultant, researcher and educator, commented that everything consultants like himself teach, their clients already know. In order to be successful, they need to confront or deal with the obstacles.
8 Tips for turning over your family business to the next generation
"What if something happens to me that takes me out of the business before I’m ready?"
Do you want to gain control of your family business?
In family business, there is a lot of jockeying back and forth. My father was aggressive, charismatic and well known around the country. He slowly allowed me to manage some pieces of the business.
The rise of the Boomer entrepreneur
Boomers may be leaving the corporate grind - voluntarily or not - but few wish to be put permanently out to pasture.
Recipe for business conversation success
What can we in family and closely held businesses learn from baking Christmas cookies.
Family business transition planning
Family relationships and values can make succession of family businesses even more challenging then for other enterprises.
Baby boom entrepreneurs: You need succession plans
Many owners of small and medium sized businesses plan to leave their businesses within the next five years.
Businesses falling outside families
For generations, parents and children across the country have struggled to keep their businesses in the family.
Strategic planning for family businesses
Most families see strategic planning as either a waste or too daunting.
Preserving your sibling connection
Siblings can have the most volatile and complex family relationships - and the issues become magnified in a business.
Saying no to retirement
Older entrepreneurs may discover that managing into their sixties and seventies is a bigger challenge than they expected.
Passing on the family business
Parents may willingly hand over the burden of management to the next generation, long before they give up the privilege of control.
Planning for succession
In an industry dotted with family-owned businesses, principals are famously hesitant about this crucial issue.
Family business no guarantee of success
Nearly 70 percent of family-owned businesses fail to reach the second generation and 90 percent do not reach the third generation.
Sobey Family Business Flourishes
Unlike any number of family businesses that have unravelled by their third or fourth generation, the Sobeys' empire continues to flourish.
Fierce Feud Threatens Strong Family Venture
History repeats itself in the Maritz family business. By Jeff Bailey, Staff Reporter of The Wall Street Journal.
The Story of Geese