Family Business Archives - Page 2 of 4

Published On - July 8, 2024

Lauren Lyman Family BusinessTags: family business

How An Heir Can Grow the Business: Lessons from “Disruptive Successor”

By Jonathan Goldhill Inheriting a family business is both a significant opportunity and a formidable challenge. For the successor, the task is not just to maintain the status quo but to foster growth and steer the business toward greater heights. Disruptive Successor: A Guide to Drivin...

Published On - June 28, 2024

Jonathan Goldhill Executive Team, Family Business, LeadershipTags: executive team, family business, leadership

The 7 Roles of a Manager: Key Terms for Effective Leadership

Recently, I learned a framework for evaluating managers that struck me as insightful and complementary to a previous post on the 7 Key Result Areas Managers Must Pay Attention To. The framework was adapted from Brian Tracy’s book Eat That Frog!, a book about how to get more things done in less...

Published On - June 17, 2023

How to Have Difficult Conversations with Family Members in the Business

Recently I was coaching one of the owners of a mid-size company who was having issues with his brother on some thorny issues around compensation, their roles in the business, and the time spent working IN the business. After spending an hour or more listening to him vent his frustrations, I moved to...

Published On - March 31, 2023

Lauren Lyman Family BusinessTags: branding, family business

Shaking It Up: How to Redefine Your Family Business Brand Identity

Photo by Adobe Stock Guest Article by Ellie Jensen Outreach Coordinator at Adobe Express If you’re a small business owner, you know that it takes a lot of hard work to make your business successful. But what do you do when your business is no longer as successful as it on...

Published On - March 24, 2023

Lauren Lyman Family BusinessTags: family business

What is a Succession Planning Roadmap for a Small Family Business?

Succession planning for a small family business can be a complex process, but creating a roadmap can help simplify the process and ensure that everyone involved understands their roles and responsibilities. Here are some steps you can take to create a succession planning roadmap for a small family b...

Published On - March 21, 2023

Lauren Lyman Family BusinessTags: family business

How to Benchmark Pay Rates in a Family Business?

Benchmarking pay rates in a family business can be a sensitive and challenging task. However, there are some steps that you can follow to establish fair and competitive pay rates: 1. Define job roles and responsibilities: Start by defining the roles and responsibilities of each family member ...

Published On - March 17, 2023

Lauren Lyman Family BusinessTags: family business

What is a Sample Agenda for a Family Council Meeting?

A family council meeting can be a great way for families to come together and discuss important issues, make decisions, and plan for the future. Here is a sample agenda that can be adapted to suit the specific needs and goals of your family: 1. Welcome and introduction: Start the meeting by w...

Published On - March 14, 2023

Lauren Lyman Family BusinessTags: family business

How Do You Establish a Family Council?

Establishing a family council can be a great way to improve communication and decision-making within a family. Here are some steps you can follow to establish a family council: 1. Start by discussing the idea of a family council with all members of the family. It’s important to get ever...

Published On - March 10, 2023

Lauren Lyman Family BusinessTags: family business

When Should a Family Business Set up a Family Council?

A family business should consider setting up a family council when there are multiple family members involved in the business, and when the family wants to address issues related to the family’s involvement in the business. Here are some factors to consider: 1. Family dynamics: If there...

Published On - March 7, 2023

Lauren Lyman Family BusinessTags: family business

When Should a Family Business Set Up a Board of Directors?

A family business should consider setting up a Board of Directors when it reaches a certain size, complexity, and stage of development. Here are some factors to consider: 1. Size and complexity: As a family business grows in size and complexity, it becomes more challenging to manage. A Board ...

How An Heir Can Grow the Business: Lessons from “Disruptive Successor”

The 7 Roles of a Manager: Key Terms for Effective Leadership

How to Have Difficult Conversations with Family Members in the Business

Shaking It Up: How to Redefine Your Family Business Brand Identity

What is a Succession Planning Roadmap for a Small Family Business?

How to Benchmark Pay Rates in a Family Business?

What is a Sample Agenda for a Family Council Meeting?

How Do You Establish a Family Council?

When Should a Family Business Set up a Family Council?

When Should a Family Business Set Up a Board of Directors?

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