Plan Now for the “Cousin Generation”

Plan Now for the “Cousin Generation”
by John Ward
For a year, speakers have come to the Family Business Center to say, in one way or another, that a family business thrives when family business members put business concerns ahead of family issues.

But John Ward has other ideas. In order for a business to thrive, he believes, it must incorporate the values and operating structure of the family. “The real issues are family-based issues more than business-based issues. The family is the most important place to focus our attention.”

As an example, Ward, author of Keeping the Family Business Healthy and other books, family business columnist for Nation’s Business, and Professor of Private Enterprise at Loyola University in Chicago described a scenario of a business that has several expansion choices. It could add new product lines within its current geographic territory, buy out a competitor in a foreign country, or develop new market penetration by opening up locations on its own in different parts of the country. More…

Building the Family Business “Team”

Building the Family Business “Team”
Family Ties Newsletter
November 2001

By Michael Wilkes, MBA, CBC, Senior Leadership Consultant

Developing an effective team is a major challenge for any business. Yet, it can be especially challenging for a family business since members of your team frequently wear a number of family and business related “hats”. Unfortunately, there is no magic formula for developing a productive team, but rather an overall guide to the hard work that is required.

To start, you might want to view your team as an “energy source” that team members are responsible for harnessing and directing. The team is responsible for three primary tasks in harnessing this energy – establishing Purpose, Partnership, and Process. Within each of these tasks the team must assure there is Clarity, Capability, and Commitment. More…