Family Business, Generations, HiringMarch 19, 2019family, family business, family owned, family-owned business, hire, motivation, next generation, position, right fit, succession, succession planningComment

Family Business Succession Planning

Company Culture, Family Business, Strategy, Succession PlanningFebruary 5, 2019business life cycle, Business Succession, Business Succession Plan, family business, family business succession, family-owned business, how to create a succession plan, how to do succession planning, how to succession plan, next generation, succession planningComment

Lessons from Dad, CEO: Conflict in the Family Business

Family Business, StrategySeptember 18, 2018common goal, communication, conflict in the family business, family business, family-owned business, succession, succession planning Comment

Family Business Matters

Family Business, Generations, Succession PlanningJuly 11, 2018Business Succession Plan, family business, family business succession, Plan for Succession, succession, succession plan, succession planning, working in a family businessComment

Lessons from Dad, CEO: Hiring Family Members

Family Business, StrategyApril 25, 2018family business, family-owned business, succession, succession planningComment

The Next Generation of Leaders: Family Business Succession

I was recently asked this question by the owner of a family business with four sons working in the firm: “How do I choose which one will run the business?”Wow! There are so many ways to answer this question. Family business succession can be complicated. My first response was to ask, “Who wants to?” To which the owner did not know the answer. So that is a good place to start; however, there is more running the family business than just who wants to.

Where do I fit in? - Non-Family Members in the Family Business

4 Minute Read

Family business owners often contemplate who will take over the business when they retire. Revela is now owned by Wayne’s daughter, Andrea Fredrickson. Actually, many owners consider their family members as first options. Leadership teams may consist of spouses, siblings, children, cousins, etc. All the same people that sit around the table at Thanksgiving dinner. But as a non-family member in a family business, sometimes you have to wonder… Where do I fit in?

Sometimes in family businesses, there are non-family employees who feel family members are entitled. They believe that no matter their skill set, those family members will always trump other employees. They watch as family members get promotion after promotion; and all the while, they’re sitting and stewing about it. They’re telling their peers. And then they begin keeping score.