RIDING IT OUT: Proactive small businesses can lead the pack in a recovery

 

 HAVE WE FORGOTTEN how to manage our businesses for growth? Economic downturn, Recession, Bottomed-out, Double-Dip. No matter where we are in the economic cycle, we should be proactive, not reactive, by planning and positioning ourselves for an economic recovery before it happens. Many great businesses that are prepared for the upturn, will ride the leading edge of the wave of recovery, and be well positioned to claim an even stronger market position than before the recession.

Recessions challenge businesses of all sizes, but it also helps to create a level playing field between them. As small businesses, we have a strong advantage over large businesses, not only to weather-out the recession, but to react quicker than large businesses, and take advantage of a recovery. As small businesses, we can take advantage of the opportunities in a recovery quicker and more effectively than large companies, because of our flatter organization structure, and ability to make and execute decisions faster. More…

Managing Complex Family Relationships in the Family Business

 UMassRelated Matters Newsletter
Summer 1995

John F. Baugh Center for Entrepreneurship
Institute for Family Business
Baylor University

For Nancy Upton, the key to success in wrestling with the issues that arise in a family business is simple: set up formal mechanisms to grapple with the issues, and get as much as possible written down.

Upton, Director of the John F. Baugh Center for Entrepreneurship and the Institute for Family Business, both at Baylor University, spoke to the Family Business Center May 12, under the elegant crystal chandeliers and stained glass windows of the Yankee Pedlar Opera House.

Families and businesses, she points out, often have conflicting sets of needs and values. Yet, in a family business, the two areas overlap. Formalizing the corporate culture reduces the tension inherent in that overlap. More…