Succession | Family Business Pointe

How Many of us Underestimate Our Business Competitors?

Leadership, Management, Succession | competition, family business competitors

A few years ago, I was consulting with a family business that owned a lumber yard. They had been in business for over one hundred years and were currently into their third generation of succession. The business had declined slightly in recent years, but the proud tradition of grandfather, son and grandson was still in […]

Why your Family Businesses needs to make regular assessments on the job performance of non-family employees.

Succession | job performance, job performance assessment, non-family employees

In family business speak, we spend much of our time talking about family issues. Relationships are complicated, performance is hard to measure, opinions are often shaped by issues outside of the business—there is, obviously, a bunch of stuff that makes family business tricky! In the wake of all these issues, however, small business owners need […]

Merry Christmas to You and Yours

Succession

Merry Christmas to you this year. What a wonderful time of year to pause and remember what makes life joyful—friends, family, loved ones, giving, kindness, service, empathy and compassion. How easy it is to forget in our day-to-day living when we are battling to survive and be successful in our businesses. Christmas time is a […]

Job Titles Are Way More Important Than You Might Think

Succession | family business job titles, job titles

Job titles can be a significant source of pain for many small family businesses. It plays a much bigger role in your business than you might imagine. Please consider this little story to illustrate. I had a good friend many years ago who worked for his father and the family business. My friend had graduated […]

Does This Sound Like Your Family Business?

Leadership, Management, Succession | family business

Back in summer 1994, my father started to take serious steps toward starting his own business. It was something he had talked and dreamed about doing for years, but the leap from dreaming to doing, as many of you know, is huge. Finally, one day he had endured enough at his place of employment and […]

What Should a Succession Plan Look Like Inside Your Family Business?

Management, Succession | family business succession plan, succession, succession planning

Succession planning is a very real factor for most business—not just family businesses. A change in leadership, for any business, will inevitably come and those changes, naturally, are best managed when they are well planned. If you have an Advisory Board or Outside Board of Directors (which you should have but likely don’t), you should […]