Running a family business tips

Family firm branding can make a company appear authentic, but it's also important to convey innovativeness, prestige, and a fair shot at getting ahead.  While approximately 75% of new jobs Read More...

Category: Research Insight

Authors: Duygu Phillips , Kristen Madison , Sandra Wolf , Andreas Hack and Franz Kellermanns

Beliefs about success, responsibility, and value creation reflect the time and place in which business owners grew up. Religion and strong family ties magnified the impact. Family business leaders Read More...

Category: Research Insight

Authors: Ileana Maldonado , Paul Sanchez and Annaleena Parhankangas

Family-owned businesses often struggle to compete with non-family firms when it comes to recruitment, and understanding the expectations of job seekers is crucial to attract the best talent. Read More...

Category: Research Insight

Authors: Annika Ehlers , Ryan Rumble , Claudia Binz Astrachan and Massimo Baù

Bragging about your family connection is universally bad, but even pride in your accomplishments must be displayed carefully -- especially in eastern cultures. In my experience working with Read More...

Category: Research Insight

Author: Fabian Bernhard

Sharon Beck, owner of a Jovie Childcare franchise, shares her insights on the benefits and challenges of being your parents' boss. Around the time that Sharon Beck was ready to quit full-time work to Read More...

Category: Interviews

Author: Kimberly Eddleston

The goals of the family and the business are often at odds. Family history can inspire bold and necessary steps that are still in harmony with the family’s image of itself.   A family sitting Read More...

Category: Research Insight

Authors: Lara Pecis , Bingbing Ge and Florian Bauer

Your "owners' strategy" should consider that in the future, the family firm will likely have many more owners. Take a broader focus when you develop it. In the US, most family business advisory firms Read More...

Category: Practice Insight

Authors: Claudia Binz Astrachan and Tom Rüsen

Fiduciary boards keep family firms focused on the long term, rather than on short-term, tactical strategies.  But many family firms resist having one, fearful of losing control of their Read More...

Category: Interviews

Author: Kimberly Eddleston

A conversation orientation in the family carries over to the business -- especially for women, who are increasingly becoming the family firm's "vocal heroes." Have you ever wondered if family Read More...

Category: Research Insight

Authors: Kristen Shanine and Kristen Madison

Family businesses should consider a social media policy as a relatively “low-hanging fruit” to introduce the next generation to governance work. Does your business family have a social media Read More...

Category: Practice Insight

Authors: Claudia Binz Astrachan , Tom Rüsen and Rebecca DeYarman