Giving back is a priority for most family businesses. Done right, philanthropy can also help sustain a multigenerational enterprise.
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Creating an Owner Strategy statement helps ensure alignment among family members and that the company is on track.
Both financial and non-financial guardrails can help your board and management put your Owner Strategy into practice.
Family business owners have the right to choose how they’ll measure success, but they must make trade-offs to prioritize the options that most align with their values.
Family owners must have a compelling purpose for being in business together. This is essential for a successful Owner Strategy.
For most owners, there are three questions to ask to help guide the tradeoffs and choices you are willing to make.
Get ahead of potential problems by creating policies and shock absorbers before you need them.
If you’re willing to work together, you can find your way out of what might seem to be intractable conflict. Here’s how.
If your family is afraid of conflict, there are several steps you can take to get to a better place.
Conflict tends to escalate in predictable stages. Here’s how to make sure yours doesn’t get to the point of no return.