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…

Family Business

What Happens When the Family Business Outgrows the Family?

There’s nothing better than running a successful business and growing rapidly. Riding the wave of success, you can do nothing wrong. Or can you?

Keeping your skill set up to speed in a fast growing business can be challenging. Founders who have homegrown skill sets are especially at risk. Fast growth brings leaders into unchartered territory causing them to learn through trial by fire. Many mistakes can be made, which won’t necessarily cripple the business, but can cause serious harm.

“we could be great owners, but we weren’t necessarily the best managers”
–Andrew Molson, Molson Coors Brewing Company

I really like this statement from Andrew Molson. It proves that the Molson Family recognized their limitations and accepted the idea that someone else could manage the business more effectively than the family. More…