Succession Planning – Seven Hard Lessons Learned From A Family Feud

The dynamics of the family business changes when a founder of a family business dies, especially, if a succession plan has not been put in place. If you think succession planning is difficult during the lifetime of the founder try it after his lifetime or when one half of senior generation is gone! Some important…
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What is Family Business Succession Planning?

“True success comes only when every generation continues to develop the next generation”. – John Maxwell Many family businesses look at succession planning as an event when the founder finally hands over the reins of the family business to his/her next generation. However, Succession Planning, in reality, is not a one-time event, but a continuous…
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Effective Communication in the Family Business

Among the typical problems that plague Family Businesses Poor Communication is at the core. One of the main reason and sometimes the # 1 reason why Family Business don't last beyond the Second Generation is due to lack of effective communication. Good communication lays the foundation of all trust based relationships and partnerships. Communication is…
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