My son and I started watching Game of Thrones; him for the second time and this is my initiation. After GOT’s disastrous season 8, my son asked if I wanted to watch that final season. That is where this Lesson Found begins. (more…)
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Will your plans protect your company from Petering-out?
Will your plans protect your company from Petering-out?
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Is your successor ready for leadership?
Is your successor ready for leadership?
Greeks elected a new prime minister last week, Kyriakos Mitsotaki, who is also the son of a former prime minister. His ascent as leader of Greece offers a valuable Lesson Found for family businesses.
Mr. Mitsotaki’s election is the culmination of his path into the “family business”. (more…)
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Addressing Sibling Conflict in the Business
Addressing Sibling Conflict in the Business
My mother and I recently traveled to visit my sister and her family. Except for the occasional meal out, we stayed in the house, simply being together as family. And we had a wonderful time! On the trip home, I considered the contrast and how stereotypical sibling conflicts burden some family businesses. The source of and ways to mitigate these conflicts are this week’s Lesson Found. (more…)
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A founder’s legacy of integrity for his daughter & their business
A founder’s legacy of integrity for his daughter & their business
This week’s Lesson Found comes from a friend, Debby Abel, who recently wrote a beautiful essay on her family’s business and the legacy of integrity her parents gave her. (more…)
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Aligning Succession Plans with Business Plans
Aligning Succession Plans with Business Plans
A participant at a recent family business workshop was surprised when I said business planning should be part of the succession planning process. This founder’s business had a succession plan but lacked a coordinated plan looking at the future of their business. This founder’s surprise is a Lesson Found for all family businesses. (more…)
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Building a team to turn impossible into possible – and more!
Building a team to turn impossible into possible – and more!
The gravity pull of black holes is so intense it sucks in everything around it – even light. It would then seem impossible to capture a picture of any black hole. But a team of scientist did exactly that. Their efforts offer a Lesson Found in what it takes to create an extremely effective team. (more…)
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The “Screech Method” for Resolving Partner Conflicts
The “Screech Method” for Resolving Partner Conflicts
Childhood friends Adam Lowry and Eric Ryan co-founded and built Method natural cleaning supplies into a $100 million brand. And, like many family and other partnerships, the path toward success was not always smooth. How the two navigated past conflict is a Lesson Found.
Featured on How I Built This with Guy Raz, the friends/partners discussed their path to success and described, as I refer to it, the “Screech Method” of conflict avoidance. (more…)
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Family Business: Preparing for the 21st Century
Family Business: Preparing for the 21st Century
“Family businesses that manage these five innate advantages are well placed to make the 21st century a family business century.” This assertion is the conclusion of a Harvard Business Review* article I recently discovered. So, what are these advantages and is your business prepared to fully benefit from them? Here’s a brief summary of each along with the questions businesses and families need to ask themselves. (more…)
Topics for Year-End Conversations
I recently broke a promise I made to my wife. I promised I would not bring up politics at our family’s Thanksgiving Day table. Well the conversation turned to college football and started to get heated. I quickly changed the topic and asked what everyone thought of our presidential candidate choices. The tone of the conversation immediately calmed down.
It is amazing which conversation topics turn heated and which are seemingly too uncomfortable to bring up. But some conversations need to be had (more…)
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Succession Planning Takes a Team
Succession Planning Takes a Team
I was surprised recently when someone mentioned they saw my role in the succession planning process as duplicative to that of attorneys. Using client examples, I provided a clearer understanding of how my role as a management consultant and family business advisor differed from and, in fact, eased the process for attorneys. Still, this prompted me to realize a review of the roles different professionals play in succession planning could benefit owners who have not yet begun their planning process.
To that end, below are listed a few of the key steps in the succession planning process along with the professionals most likely to assist in that step. (more…)