Family Governance

4 Family Business Tips for the Holidays

2022-12-02T13:22:57-06:00By |Distribution & Logistics, Succession Blog|

The holidays can bring about a mixture of happy and sad emotions. Privately-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. In a family business environment, mismatched expectations [...]

Four Strategies for Successful Sibling Partnerships

2022-11-14T15:34:45-06:00By |Energy, Succession Blog|

What do the Olsen twins, the Williams sisters, the Warner brothers, and the Wright brothers all have in common?  They are all siblings able to succeed in creating a business together.  Fundamentally, the success of any partnership, let alone a family business partnership, is ongoing work towards maintaining harmony inside the business relationship by [...]

Transfer Daily Management & Remain in Control

2022-10-11T11:16:57-05:00By |Family Business Balance, Multi-Unit Franchising, Video|

Successful family businesses have the power to provide for many lifestyles. Owner(s) and their families, key leaders and their families, employees, and the community it serves. Many owners have the vision to transfer out of daily operations and want the business to remain under family ownership. There are many strategies [...]

Is a Temporary Successor Right For You?

2022-10-11T11:11:57-05:00By |Distribution & Logistics, Family Business Balance, Video|

The value of the business is directly related to the reliability of future profits. Potential buyers, banks, investors, top talent, and strategic relationships all care about the sustainability of business performance. A temporary, or as we call it, a "Contingent Successor," provides a business owner and their family a strategy [...]

Create More Control Over Your Future

2022-09-23T06:14:30-05:00By |Multi-Unit Franchising, Succession Blog|

No one can predict the future, but as a business owner, you can manage uncertainties by strategically thinking through the possible, probable, and potential issues impacting your long-term goals. This is where succession planning comes in. A succession plan provides a roadmap outlining growth strategies, contingency plans, governance guidelines, leadership transitions, and strategic plans. [...]

Strategies for Successful Partnerships

2022-07-12T08:46:30-05:00By |Multi-Unit Franchising, Succession Blog|

Franchising gives access to owning your own business, and those with an entrepreneurial spirit are attracted to the business model. Friends, spouses, siblings, parents, or other extended family join into partnerships to fulfill their business dreams. Partnerships are common and can feel supportive until a slight disagreement turns into a big problem for the [...]

Sharing Business Success With The Next Generation

2022-07-05T08:17:57-05:00By |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 [...]

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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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