Tom wanted to grow the business rapidly with outside investors and Nancy preferred downsizing the business to retain majority ownership and control
The Thompson Companies is a specialty retailer of children toys. Tom and Nancy Thompson founded the business in 2002, together shortly after they were married. The business started out as a hobby, but rode the wave of a strong economy and flourished enough for both of them to leave their full-time careers and dedicate themselves to the new business. As the business grew, both were in agreement on most business issues.
The business came to a crossroad. More…
Turning Sibling Rivalries into a Positive Force for Business SuccessNortheastern University
Family Business Quarterly
“When sibling relationships are going well, they can be the most wonderful thing in a business. When they are not, they can mean the end of the business.”
That observation by Shari Wyner Narva, a consultant with Genus Resources Inc. of Needham, Massachusetts, wasn’t disputed by any of the sixty or so attendees at a recent session of the Northeastern University Center for Family Business on “How Relatives Relate: Siblings in Business Together.” Narva presided over a panel consisting of two sets of siblings from family businesses: Matthew and Andrew Hayes of Bernett Research Services and John and Brendan McSheffrey of MIJA/Bestek. More…