Meet Banyan’s Thought Leaders
Once you survive a disruption within the family business, it’s not the end of the story. Stabilizing after a disruption is just as important than surviving one – if not more. So how do you get things back on track? Our resources provide clear guidance on moving forward following a disruption to the family business so you can enjoy continued stability and success.
There’s nothing wrong with your family if you’re struggling with any of these challenges. Rather than assigning blame, focus on how to support each other, as well as what you can learn for the inevitable next time you experience a disruption.
Nick Di Loreto
Disruptions are inevitable both in life and in family business. But how you prepare for those disruptions and the decisions you make in the face of them can fundamentally shape or reshape your family and your business.
New spouses can play a significant role in the fate of your business family. Find ways to engage them and leverage the unique experiences they bring. You don’t want them to feel like outsiders.
Senior Research Fellow
In an uncertain, volatile world, you can’t anticipate what will happen or when. But there are two things you can do: create a structure and family mindset that is open, flexible and responsive to change, and put in place processes for managing the most likely disruptions.
Business families face tough decisions together. Disruptions often challenge your status quo and require a new set of decisions.
Judy Lin Walsh
It’s inevitable that inequality will develop among business families over time. But what’s not inevitable is how you respond. You can choose to be upset or you can choose to grow.
Marion McCollom Hampton
In the best cases, people marrying in to a family business bring that outside culture of their own family, and that makes the business family stronger.
We’ve seen many leaders for whom being an engaged shareholder is a better fit than a day-to-day manager, and vice versa. Find you own path, and remember: it is possible to respect and honor the family legacy and seek personal fulfillment at the same time.
Transition and succession are a process, not an event. So, use time in your favor: the sooner you start thinking about it and making intentional choices, the easier the eventual transition will be.