June, 2021

June 23, 2021 - Issue #33

Foundations Give Entrepreneurs a Channel for Doing Good Foundations Give Entrepreneurs a Channel for Doing Good Foundations provide a way for entrepreneurs to address societal problems or to help organizations focused on education, health care research or the arts.
Measuring the Financial Impact of Family Businesses on the US Economy Measuring the Financial Impact of Family Businesses on the US Economy Future tax and regulatory policies will impact family businesses, their employees, the local communities they support and the economy.
Four Things that the Best Family Business Boards Do Well Four Things that the Best Family Business Boards Do Well Independent directors hold others accountable and encourage change even when firmly entrenched relationships or operating philosophies make it seem impossible.
To Encourage Innovation, Tap the Next Generation of Leaders To Encourage Innovation, Tap the Next Generation of Leaders This article and podcast explore how family businesses can keep products and services relevant and avoid playing catch-up with competitors.
Use Digital Marketing to Build Demand for Your Product Use Digital Marketing to Build Demand for Your Product Here's what you need to know about SEO, PPC, influencer marketing and content marketing -- all tools that will get you noticed.
June 2021
Should You Brand Your Family Business? Evidence from Research and Practice Should You Brand Your Family Business? Evidence from Research and Practice Touting its family ownership may help a firm impress some stakeholders, but may deter others. The family must be strategic in its branding efforts.
How Scotch Whisky is Fueling Decades of Good Works How Scotch Whisky is Fueling Decades of Good Works Without heirs, the Robertson sisters 60 years ago created an evergreen philanthropic-commercial hybrid company that remains protected from taxes and takeovers.
A Bonanza for Food Trucks A Bonanza for Food Trucks

Many restaurants were forced to close during the pandemic, but food trucks -- many of them family-run -- found a way to keep rolling, as this New York Times article points out.

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Recent
Family Business Leaders' Fear of Failure Can Inhibit Next Gens
by Seyyede Sharare Bagherian, Sonia M. Strano, Sohrab Soleimanof, Jon Carr, and S. Alireza Feyzbaksh / Research Insight

When parents openly display fear of failing, it can unintentionally portray entrepreneurship as unsafe, undesirable, or even shameful. This doesn't help their successors or the business. Read more...

Are the 'Best Practices' All Wrong for Your Family Business?
by Luciana Lucena de Lima and María José Parada / Research Insight

The best processes and systems come not from outside advisers and experts, but from how families actually live, relate to one another, and make decisions.  Read more...

Family CEOs May Encourage More Innovation Than Non-Family Leaders
by Mario Daniele Amore, Morten Bennedsen, Bordin Bordeerath, and Nicolai Foss / Research Insight

While professional non-family leadership may bring some advantages, the stability brought by family leaders may encourage employees to innovate without fear of failure. Read more...

Addressing Substance Use Disorders in a Family Enterprise
by Diana Clark / Commentary

When a family member struggles with addiction, the consequences can ripple throughout the firm and increase its risks. Read more...

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When entrepreneurs raise entrepreneurs
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Family Business Succession Planning: 10 Golden Rules
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How Family Dynamics Shape Family Businesses
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Editorial offices located at St Thomas University

Editorial offices located at St Thomas University

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How to Pitch Your Startup to Attract Money
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Supported by the Richard M Schulze Family Foundation

Supported by the Richard M Schulze Family Foundation