What does it feel like when a founding wealth creator begins the passing of the baton to a group of multi-generational legacy builders? What does it take to devote attention and resources to both the collective “we,” while fully nurturing the equally critical “me,” of each family member and giving them the crucial components of […]
Complexities, as Families and Wealth Evolve and Grow: Part I Read More »
What is the difference between ownership and management? These differences are some of the most important aspects of ownership that next-gen leaders need to learn. While acknowledging there will be some overlap, the differences between the two roles are critical to understand in order to help the next generation of owners prepare for their new
Life for business owners tends to move at a faster pace — which can make it difficult to step back from the hustle and bustle and focus on the future. But in order to achieve your idea of “success,” you need to first sit down and determine what, exactly, that means to you. In other
You’ve likely heard before that “emotions don’t belong in business,” or “it’s not personal, just business.” But when you’re running a successful family business, your decisions are personal, and they have the potential to impact both the future of your business and family dynamics. While people tend to argue that emotions cloud our judgment, it’s
Do Emotions Ever Belong in Family Business? Read More »
Transformative life events have a mysterious way about them. We can’t anticipate them, can’t plan for their arrival, and certainly can’t summon them at will. It can often seem when we most ardently strive to initiate change, it can elude us, slipping through our fingers just when we think we’ve gotten a hold of it.
How I Uncovered Nature’s Secret to Family Business Success in Alaska Read More »
Family businesses are unique entities, balancing the intricacies of family relationships with the demands of the business world. They carry legacies, embody values, and represent generations of hard work. The transition from one generation to the next often presents challenges, and it’s crucial for families to navigate these transitions effectively to ensure the longevity of
Ownership Structure in Family Businesses: When and How to Pivot for Generational Success Read More »
Most people realize that building a small business is challenging, but few understand the difficulties of building a business around the intricacies of family dynamics. In the best situations, the family offers a foundation of loyalty, trust, and dedication – traits on which most businesses need to thrive. In the worst cases, challenging family relationships,
Using a Facilitator to Overcome Family Business Challenges Read More »
When it comes to passing down intergenerational wealth, many families tend to mistakenly narrow their focus on the logistics—how they will transfer their assets with strategies like trusts, gifts, life insurance, etc… But there is so much more to it than just the “how.” What about the “why”? Transferring generational wealth involves more than just
Safeguarding Family Values While Managing Generational Wealth Read More »
When you think about transitioning out of your family business, what do you envision? Is it the day you hand over the keys to your successor? Or maybe it’s the retirement party your loved ones will throw you, where you’re surrounded by friends and family. While we tend to associate the idea of “succession” with
