Sharing Business Success With The Next Generation

2022-06-21T14:19:40-05:00By |Multi-Unit Franchising, Succession Blog|

Owning a business in this highly competitive market is complex. Add in the relational dynamics of partnering with a sibling, parent, cousin, spouse, child, or friend, and the complexities multiply. Studies show 70 percent of businesses with family involved fail or are sold in the second generation, and just 10 percent of companies survive [...]

Discussing Complex Family Business Issues, the Right Way

2022-06-14T06:11:50-05:00By |Multi-Unit Franchising, Succession Blog|

Summer months often mean vacations with family.  Family may be business partners, employees, or those who influence business decisions as a life partner, husband, or wife.  The difference between a productive dialogue and a blowout conflict often boils down to choice and awareness on both sides.  Timing, environment, preparation, and other dynamics influence an [...]

Earning Respect in the Family Business

2022-03-24T13:26:37-05:00By |Automotive, Family Business Balance, Video|

A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses [...]

3 Tips to Transform Frustrating Partnerships

2022-02-16T12:48:03-06:00By |Multi-Unit Franchising, Succession Blog|

Multi-unit franchising provides the opportunity to build something, be your own boss, and generate opportunities for others.  As you design your business strategy, recruit your team, create your culture and string one success after another, it becomes easy to reflect on those who help build your business as family.  Families are diverse; they come [...]

Four Secrets to Family Business Holiday Success

2022-02-22T15:39:00-06:00By |Agriculture, Automotive, Construction, Distribution & Logistics, Family Business Balance, Manufacturing, Multi-Unit Franchising, Professional Services, Succession Blog|

When it comes to the season of family, otherwise known as “The Holidays” it is common to experience fear and anxiety. We all want it to be like the best holiday movies, but the reality isn't a hallmark movie. There is a secret to creating a happy holiday, or season [...]

Family Business: Avoiding the Kicked Hornets Nest

2022-02-22T15:27:44-06:00By |Construction, Family Business Balance, Succession Blog|

A hornets’ nest or even a beehive from afar appears to buzz with activity. It’s quite interesting to watch nature in action, which ironically is very similar to families and working in a family business. There are roles each individual plays and a set of standard operating procedures that allow [...]

How Much Should You Pay Your Family as Employees?

2021-07-02T10:20:19-05:00By |Multi-Unit Franchising, Succession Blog|

When your family are employees, understanding how much to pay them is complex.  There are no secrets within a business. Believe it or not, your employees will find out if a family member is being overpaid and resent them (and you). Family in the business have formidable challenges just doing their job and earning [...]

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