|
Ike did it right: successful family succession planning
In 2004 I learned that Ike’s tax strategies had helped him achieve yet another goal: transferring one of his franchised restaurants to his daughter.
Keep your eye on the ball
Performance is a critical component as you prepare your business for sale or transition.
Family ties can put companies in a bind
In family businesses, strain between relatives can be more severe when finances are tight.
When children don't want to become part of the business
Often children's reluctance to be involved in the family business isn't rooted in a dislike of the business itself but has more to do with a need to assert their independence.
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.
What do family members want?
All family members hope that having a family business will enable both the family and the business to be stronger than either could individually...
Businesses falling outside families
For generations, parents and children across the country have struggled to keep their businesses in the family.
Dealing with difficult relatives who are averse to change
If you find it difficult to engage in direct discussion with some of your relatives, try keeping them up to date through a regular business bulletin.
The need to review buy-sell arrangements
In the current economic environment, many business owners have to face the reality of the true sustainability of their business
The role of a facilitator in family business
Facilitation can be used in many areas of your business development. Read more about the ABCs of facilitation.
Building clear policies will keep the family owned business healthy
Family business owners must learn to separate family issues from business issues and deal with each independently.
Avoiding domestic and business overlap
It's important to get into good habits and firmly separate work and home.
Tom Bitove: Keeping it in the family
We understand very few families make it successfully to the next generation, and so we have been blessed.
Five trends of family business
Perhaps the most profound impact, is the "stack-up" of various generations in the family and the business that has resulted from longer life-spans and delayed retirement.
A little book that could save a lot of grief
According to recent surveys, more than half of business owners in North America will be reaching retirement age in the next ten years. Fewer than half of them have developed a succession plan.
Tough love: what you really want from your advisory board
Having a great board enables a start-up company to do more, do it faster and do it a whole lot better.
Lehman Brothers Holdings Inc.
A Storied Business Taken down by the Current “Credit Tsunami”
Advisory board can offer valuable input to small firm
Getting some outside advice can make the difference between going it alone and going under, or making an idea work.
A plan, a plan, my business empire for a plan
Some studies have estimated that between now and 2015, business assets worth $10 billion will change hands.
Fire the kids
When you acquire a subsidized business from your parents, the baggage that comes with it can ground a 747. Mom or Dad may expect a continuing say in the business.
Family businesses: Facing up to the facts
In his book, Every Family's Business, Thomas William Deans provides a road map for the orderly succession or sale of a family business.
Getting the next generation ready to run the family business
You've built a successful business and you hope to pass it on to the next generation. But you've seen succession fail, down the road and across town...
When an enterprise is run as a family affair
The scope for conflict seems endless. Egotism and jealousy among relatives can ruin both the business and its joint owners.
Mathieson's bakers
Mathieson's is a 4th/5th generation family-owned bakery and restaurant business based in Falkirk.
Wisdom, not money, tops inheritance goals: Study
Canadians show the most surprising degree of optimism in retirement compared to other countries.
The Four Ds of a business exit strategy
The idea that your business will provide you with income after you are no longer there may not be a reality. You have to depend on yourself. Take the time to look at the four D’s of a business exit strategy.
Making a difference - survey by PWC
A global study compares family businesses in North America with their counterparts in Europe, Latin America and other emerging markets.
Move to core values and communication
From shirt sleeves to shirt sleeves in three generations. That’s the way many family businesses go where there is inadequate attention given to transition planning.
Changing of the guard at Salvatore's
Transferring ownership of a founder's business is like a parent giving a child up for adoption after having invested a lifetime of love and labor to raise it
Pass the torch without burning your business
Succession planning for family enterprises has changed dramatically over the years.
The 7 key qualities of successful entrepreneurs
Being an entrepreneur is about more than just starting a business or two--it's about having attitude and the drive to succeed in business.
Help for handing over a family business
It's not something that most family-run businesses want to think about, but selecting an heir apparent can be even trickier than launching the company.
A transfer tsunami for family biz
Over the next 20 years, nearly $4.8 trillion of wealth is set to be transferred to the next generation of heirs.
Establishing a family council
As the family business grows there are necessarily more people involved and there is a requisite need for more formal governance structures.
When generational perspectives differ...
"These kids scare me sometimes. They seem so implusive. I can't believe they're not satisfied with all that I've tried to build for them for over twenty-five years.
Planning ahead
Effective succession and talent management planning will ensure a company's survival as well as enhance its value.
Bridging the generation gap
Five strategies that will help every inter-generational family business make it through the critical years.
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.
All in the family
Nothing succeeds like a succession plan that has been thoughtfully considered and carefully drafted.
A different leadership yardstick
Getting good leaders for your team isn't everything, it's the only thing.
Survival of a family business: Need for succession plan
Family business succession takes planning and that includes taking a good look at where the business is today.
Harness the power of an advisory board
No business is too small to benefit from an Advisory Board. It can be a powerful management tool for your small business.
Developing leadership and choosing successors
Teaching leadership within the family should begin early.
Anger and the accidental partnership
Many participants in the family business are forever steaming over the real or perceived unfairness they endure.
The third child
This third child was their term for their passion for creating something that would be a permanent part of their family
Saying no to retirement
Older entrepreneurs may discover that managing into their sixties and seventies is a bigger challenge than they expected.
For couples working together, setting ground rules is a must
When couples work together as business associates, very often the same dynamics that exist in their relationship at home will come forward, which is why it is important to set ground rules.
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.
Proud Waves Break
A look at two individuals who struggled with their omnipotence - to the point where it greatly affected their families and the succession of their businesses. These stories emphasize the importance of coming to terms with one's mortality and learning to trust enough to hand over the control of the business.
Plan Ahead to Beat Retirement Blues
As retirement approaches, we take serious stock of our lives and ultimately realize there are things that are more important to us than work and money. By Barbara Moses
Family Values
Creating an Exit Strategy. An adaptation of Grant Robinson's article for CA Magazine, April 1999.
Great Expectations
A delightful family business story with a serious message for entrepreneurs....
|
|
