Regular issue

January 16, 2023 - Issue #81

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 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 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 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? 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 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 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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How to Boost Your Board's Performance

Separate Family Offices Can Minimize Money Problems

Women Encourage Candor at Family Businesses

Family Firms Must Address Mental Health Challenges

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Recent

Involve Next-Gens in Developing Your Social Media Policy

by Claudia Binz Astrachan, Tom Rüsen, and Rebecca DeYarman / Practice Insight

Consider a social media policy as a relatively “low-hanging fruit” to introduce the next generation to family governance work. Read more...

Family Businesses Can Learn From the Battling Brothers of Oasis

by Salvatore Sciascia / Commentary

Fighting caused Liam and Noel Gallagher to throw away 18 years of work. Family firms must do these five things to avoid the same fate. Read more...

Employees With Toxic Traits Can Still Be An Asset at Family Firms

by Benjamin McLarty and Daniel T. Holt / Research Insight

The emotional connection that families have with their companies can encourage good performance -- even from employees with narcissism, psychopathy, and Machiavellianism. Read more...

'Performance-Enhancing Vices': Good for Business, Bad for Relationships

by Kimberly Eddleston and David Werdiger / Commentary

Advisor and author David Werdiger talks about the business benefits and personal drawbacks of being selfish and stubborn. Read more...

by Joseph Astrachan and Claudia Binz Astrachan

Retirement Options and their Consequences for Small Business Owners

by Valeria Alterman and Ariane Froidevaux

The Biggest Mistakes Family Businesses Make With Their Boards

by Kimberly Eddleston

Future Family Business Owners Can Learn to Manage Conflict

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How to Run a Family Business Successfully

by Kerry Hannon