Trusting Others Outside of the Inner Family Circle

As family business owners, we are a trustworthy group. We tend to be easy-going and get along well with others.  Generally we are more sensitive to employees concerns, even treating them as extensions of our own family.

However, this trusting culture, can also leave us vulnerable to outside non-family executives who might take advantage of our unique corporate culture.  If we aren’t careful, we may find our business being taken advantage of by individuals who seek out closely-held businesses where they can gain undue power and influence.

We’ll Never Do That Again, But We Did

Our first experiences bringing in outside non-family executives were horror stories. These hiring mistakes happened to us, embarrassingly, not once, but twice.  The first instance was More…

Determining Key Positions for Family Members in Your Family Business

Keeping family members from stepping on each other can go a long way toward preventing conflict in your family business

Whenever I meet someone and they ask me what it’s like to work in a family business, they almost always begin by asking how hard it must be to work with each other and how much fighting goes on. In our family business we actually get along well with each other. In fact, most family businesses I meet also don’t have the typical conflict and infighting stigma that follows us around. More…