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 [...]

Tips to Create Family Business Joy for the Holidays

2021-12-16T12:10:10-06:00By |Multi-Unit Franchising, Succession Blog|

The holidays can bring about a mixture of happy and sad emotions. Entrepreneurial-owned businesses are unique in that your business is a family business. You may employ those related to you by blood and employ loyal people you have grown to care about beyond just dollars and cents. With a family business environment, mismatched [...]

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 [...]

Strategies for Cultivating Attractive Business Cultures

2021-10-11T18:17:47-05:00By |Multi-Unit Franchising, Succession Blog|

Whether directly or indirectly, family dynamics impact the business' ability to be successful, profitable, and, very importantly, scalable.  Whether blood-related or not, how family influences business decisions is either an asset or a liability to your culture.  Family comes in those blood-related to the owner, key leaders, and even extended family.  Creating boundaries early [...]

How to Create Boundaries Between Family and Business

2021-09-22T08:18:49-05:00By |Dr. Merlot, Succession Blog, Video|

The focus for this installment of  “Dear Dr. Merlot” is Family Governance. Family Governance policies are the first step to create boundaries between the family and the business.   The specific question we will cover from Loyd's book Family Business Heartburn Relief: Answers to Gut-Grinding Family Business Questions is:   How do the [...]

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What is Changing In the Areas of Estate Tax?

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Planning Opportunities To Take Advantage of Now

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Leadership in Uncertain Times

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