January 2021 Newsletter – Valuing Non-family Employees in Your Family Business

January 2021 Newsletter – Valuing Non-family Employees in Your Family Business

In January 2021 we have been discussing five challenges of family businesses. Most dialogue about family business challenges centers around the needs of the family members. Non-family employees hold essential roles within most companies, however. If they are not valued, consulted, and compensated fairly, they will leave for other opportunities, and the company will suffer the loss of their intellectual capital and experience.

5 Family Business Challenges

5 Family Business Challenges

Millions of Americans have a dream to one day own a business. They also have a soft spot for family owned businesses. Approximately 20% of U.S. small businesses are family owned. We visualize this entrepreneurship as what built this country and made it successful. As...

December 2020 Newsletter – Training Successors for their Future Roles in Your Company

December 2020 Newsletter – Training Successors for their Future Roles in Your Company

In December 2020 we have explored the topic of succession planning and training the next generation for their future in the business. While many people associate succession planning with preparing family members for their future leadership roles, it also includes other roles within the company. Proactive CEOs will attract and prepare their workforce to fill all key roles in the organization from top to bottom so the company is anti-fragile and ready for any eventuality.

Preparing Your Successor for a Transition

Preparing Your Successor for a Transition

We have discussed numerous aspects of succession planning on this blog in the past two years. It’s crucial for business owners to plan for their companies’ future years or even decades in advance if they want the best possible outcome for themselves, their families,...

November 2020 Newsletter – Effective Corporate Governance Benefits All

November 2020 Newsletter – Effective Corporate Governance Benefits All

In November 2020 we have explored the topic of corporate governance. Effective governance requires that people in all leadership positions within an organization understand their roles and responsibilities and take them seriously. Companies that want to be stronger, more ethical, more productive, and more profitable should analyze their leadership structure and make changes as necessary to ensure they can survive internal difficulties, economic downturns, or a leadership transition. Ultimately, good governance benefits everyone associated with the company.

The Importance of Good Corporate Governance

The Importance of Good Corporate Governance

In recent years the public has become more disillusioned with institutions, including government, law enforcement, religious groups, civic organizations, the media, and business. The public’s cratering trust in the people who run these institutions has had a...

October 2020 Newsletter – Resolving Generational Conflict by Utilizing Generational Strengths

October 2020 Newsletter – Resolving Generational Conflict by Utilizing Generational Strengths

In October 2020 we have focused on how the values of the different generations active in the workplace at this time – Baby Boomers, Generation X, and Millennials – play into the generation gap. Working to resolve those differences and utilize the strengths of these generations can help preserve and grow family businesses. Technology is one area where younger generations can successfully take the lead.

How Does the Generation Gap Affect Your Business Transition?

How Does the Generation Gap Affect Your Business Transition?

The generation gap is something that people have always talked about, the differences between the younger generations and the older ones. In previous blogs we have discussed some of the complications of transferring a business to the next generation. In this blog we...

September 2020 Newsletter – Developing a Great Sales Team and an Effective Sales Playbook

September 2020 Newsletter – Developing a Great Sales Team and an Effective Sales Playbook

In September 2020 we have focused on the importance of a high performance sales team to any business. We also discussed how to push your sales team members to enhance their skills and be more effective. One way to make this happen is to create a sales playbook. This playbook should be continuously updated as your sales team learns from their mistakes and successes and market conditions and company objectives shift over time.