Family Business Coaches Others on Survival

Family Business Coaches Others on Survival

by Elena Cherney
Staff Reporter of The Wall Street Journal

This article is reprinted by permission from StartupJournal.com.

Few people know better than Philippe de Gaspe Beaubien the perils of trying to pass a family business down through the generations.

For 11 generations, his ancestors traded fur, brewed beer, baked biscuits and traded stocks in Quebec. But none of their businesses stayed in the family for more than two generations.

Mr. de Gaspe Beaubien, 72 years old, and his wife, Nan-b, 65, vowed decades ago to have better luck in building their Montreal publishing and broadcasting company, Telemedia Inc., into a multigenerational enterprise. So they sought what little expert advice was then available on running a family business. They interviewed families around the world about their own experiences. And two years ago, they passed control of Telemedia to their three children. Their two sons now run the company. More…

Successful Family Meetings: A Critical Foundation for Business Longevity

Successful Family Meetings:Northeastern University
A Critical Foundation for Business Longevity

Family Business Quarterly

One of the best ways for keeping family members committed to their companies, as well as dealing with the inevitable conflicts that get in the way of long-term success, is to hold regular family meetings, argued Drew S. Mendoza, Program Director of the Family Business Center at Loyola University, Chicago.

Mendoza recently traveled to Boston to lead a Half-Day Forum on “Holding Family Meetings: The Whys and the Wherefores” for NUCFB members. Through presentations and small-group discussions, he provided guidelines for “winning at family meetings” to enhance the family spirit that he termed “critical” to keeping the business alive across generations. More…