Regular issue

January 16, 2023 - Issue #81

It’s Complicated: Managing Succession in Cases of Divorce and Adoption It’s Complicated: Managing Succession in Cases of Divorce and Adoption As families become more complex, so does planning for succession in the business. Part 1 of our 2-part series looks at how to minimize the risks for conflict.
Advice for Family Business Successors: Be Humble and Curious Advice for Family Business Successors: Be Humble and Curious The bravado and doggedness that worked for Winston Churchill and Vince Lombardi won't work at family firms, which need a more supportive leadership style.
'CHAOS' Brings Order to Family Businesses 'CHAOS' Brings Order to Family Businesses Business thinking is rational and economic; families are highly emotional. Chaos can result when the two realms intermingle, but it can be minimized.
Keeping it in the Family Keeping it in the Family Experienced mentors weigh in on how to keep the peace while working with your relatives.
What Matters More for Entrepreneurs: Book Smarts or Street Smarts?  What Matters More for Entrepreneurs: Book Smarts or Street Smarts?  In environments with high levels of uncertainty, our research showed that emotionally intelligent people were far more likely to be successful.
January 2023
Developing Your Business Family Strategy: Where to Start and What to Consider Developing Your Business Family Strategy: Where to Start and What to Consider Successful, long-lasting business families share an understanding of what is important to them, what they want to do together, and how they want to work together to achieve their collective goals and vision.
Exiting a Business: the Challenges and Rewards Exiting a Business: the Challenges and Rewards Is 2023 the year you sell your business? Get ready for a thrill ride of emotions. Here's what to expect.
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Recent
The Next Generation Can Help the Family Firm Innovate
by Richard Schulze and Ritch Sorenson / Commentary

Best Buy Founder Richard Shulze and Ritch Sorenson of the University of St. Thomas explore the opportunities that come with a changing of the guard. Read more...

Family Business Stories Build a Legacy For the Next Generation
by Kimberly Eddleston / Interviews

Books, websites, videos and blogs can capture a family business's saga, with all its challenges and triumphs, and shape a powerful legacy. Read more...

Daughter Continues Mom's Legacy of Helping Others
by Kimberly Eddleston / Interviews

Blessings in a Backpack can inspire any family-run business or organization that hopes to continue the founder's spirit and mission in the next generation. Read more...

Self-Interest Can Skew Budgets at Family Businesses
by Joseph Astrachan / Practice Insight

Realistic budgets are powerful planning tools. But the motivations of owners, sales people, the production staff, and others can get in the way. Read more...

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Family Firms May Need More Legal Advice Than They Think
by Kajsa Haag, Hanna Almlöf, Marina Madsen, and Mette Neville
How Family Dynamics Shape Family Businesses
by Joseph Astrachan and Claudia Binz Astrachan
Editorial offices located at St Thomas University

Editorial offices located at St Thomas University

Popular
Managing Emotional Minefields Within Family Businesses
by Dr. Ayoosha Saleem, Francesco Barbera, Simon de Jong, and Arvid Hoffmann
Supported by the Richard M Schulze Family Foundation

Supported by the Richard M Schulze Family Foundation