Richard Raymond Associates

Soft On People Tough On Ideas
Published: 2017-4-14
On March 31 2017 in his New York Times Corner Office column Adam Bryant published Jessie Woolley-Wilson on Creating Benevolent Friction at Work a condensed version of his interview with Jessie Woolley-Wilson C E O of Dream Box Learning a provider of math-education software Through Bryant s article we learn about how language and cultural differences within her 8230
A Sense Of Gratitude By Any Means
Published: 2017-4-09
One of my more important life exercises is a nightly examination of my day starting with recognition of what I am grateful for both large and small So when Want to Give Like a Rockefeller Be Rich in Gratitude appeared on April 1st in the New York Times Personal Business Column it resonated personally The article 8230
Why You Want Gravity In Your Family Business
Published: 2017-4-01
Many decades have passed since Isaac Newton set forth his law of universal gravitation that states in part that every mass attracts every other mass in the universe and since Albert Einstein published his theory of general relativity revealing a view of gravity where mass influences the dynamic shape of space-time But gravity isn t only 8230
Accident And Intention
Published: 2017-3-24
A young family business first or second generation in which the family s next generation have begun to find their places has reached a point where two possible paths to becoming a multi-generational enterprise emerge The incumbent generation can either let things play out willy-nilly without any plan as to what the business may look like in the future and 8230
Family Businesses Got Edge
Published: 2017-3-18
A range of factors inherent to family businesses give them 8220 the edge 8221 a natural set of competitive advantages over non-family business Included among these Values embedded over generations Generations of accumulated knowledge of their business and the industry in which the operate Agility within rapidly changing markets derived from interaction of family management and ownership 8230
Impact Stewardship And Family Business
Published: 2017-3-10
I recently saw Perpetual Revolution The Image and Social Change at the International Center of Photography in New York City Included among the works on exhibit a riveting video entitled 8220 3 Seconds 8221 https www youtube com watch v iQYiRwNd7ug 8220 3 Seconds 8221 begins by stating the age of the earth 4 5 billion years time since the appearance of our species homo sapiens 140 000 years 8230
Success An Inspired View
Published: 2017-3-02
In her bestseller Thrive The Third Metric to Redefining Success and Creating a Life of Well-Being Wisdom and Wonder 1 Arianna Huffington makes an impassioned and compelling case for the need to redefine success in today s world through well-being wisdom wonder and giving Is this family business 160 1 Thrive The Third Metric to Redefining Success 8230
Benchmarks For Family Enterprise Survival
Published: 2017-2-25
In September 2012 Dennis T Jaffe Ph D of Saybrook University and Jane Flanagan of Family Office Exchange published Best Practices of Successful Global Multi-Generational Family Enterprises Responding to the lack of solid research into strategies that support long-established family enterprises they undertook an academic-level study with the goal of benchmarking best practices for multi-generational longevity 8230
Star Trek Ideals And Family Business
Published: 2017-2-18
It 8217 s a well-known fact that since its first airing in 1966 the Star Trek series has inspired generations of young people to become scientists YouTube abounds with videos of astrophysicists theoretical physicists astronomers cosmologists giving lectures taking part in conferences presenting their latest findings And in video after video the scientists invoke their debt to 8230
Saved The Business The Only Problem Is
Published: 2017-2-11
We all know the story of the surgeon reporting the operation went well the only problem the patient died Some thirty years ago family businesses became a subject of investigations and advisors rushed to help them Their initial thinking because it is inherent in the nature of family-owned enterprises that leadership is by family members the 8230
Listening To Chopin
Published: 2017-2-03
An entrepreneurial client recently mentioned one of his favorite Ted Talks The Transformative Power of Classical Music by presenter Ben Zander By way of various piano renditions of a piece by Chopin Zander illustrates several aspects of understanding classical music that I found extremely relevant to family business success https www ted com talks benjamin zander on music and passion Ben Zander is conductor and 8230
Envisioning A Great Family Business
Published: 2017-1-27
My blog this week is built around two quotes from Sam Johnson the fourth-generation patriarch of the SC Johnson Company The first Each generation has the responsibility of bringing to the business their own vision for the future of the business 1 Recently my wife and I spent a weekend at the Mohonk Mountain House 8230
Transition Transition How Goes The Transition
Published: 2017-1-20
Family businesses offer a unique opportunity to examine what it takes to transition from the entrepreneurial mindset of the founder to that of an established and complex enterprise The oldest form of business family firms represent the majority of businesses worldwide Given that they are ubiquitous one might assume their best practices are well understood 8230
Pathways Of Ownership Distribution
Published: 2017-1-13
It s not uncommon for a family to pass on ownership of their business equally among all their children When this second generation passes on their shares these may again flow equally among their children the family s third generation According to this approach the two siblings in the second generation will each receive ownership of fifty percent 8230
Family-Business Structure Three Circles
Published: 2017-1-06
Establishment of smoothly working interrelationships among the business family business ownership and business management is one of the challenges as well as strengths of a family business In the first generation these groups invariably have all the same players But as generations pass the picture can become significantly more complex To help with visualizing the 8230
Familiness At Work And At Rest
Published: 2016-12-30
Familiness in family businesses The nature or set of resources of the family in business contributing to its competitive edge including its culture reputation degree of confidence level of communication entrepreneurial spirit management and decisions making capabilities trust between individuals and interest groups shared beliefs commitment flexibility creativity and innovation Adapted from Family Business wiki 8230
The Longest Night
Published: 2016-12-25
The Longest Night The sun is disappearing we must bring it back Throughout parts of the globe where the seasons change people have been observing the winter solstice for millennia imploring the sunlight to return and celebrating its readiness to do so I find myself writing this blog on the evening of December 21st the winter solstice the 8230
Authentic Leadership Suggested Holiday Reading
Published: 2016-12-10
Over the past month I have found myself recommending Warren Bennis book On Becoming a Leader to a number of people Bennis who passed away in 2014 was a prolific writer on leadership and according to management guru Peter Drucker this is Bennis most important book I find it intriguing that I am now recommending 8230
Bequeathing Family History
Published: 2016-12-03
Storytelling is basic to human society Around the globe and throughout history storytelling has been used to communicate traditions beliefs and values Stories help to strengthen the form and order of the cultures and societies to which they belong According to Judith Kolva Ph D professional personal historian and CEO of Legacies in Ink 8221 Our stories are 8230
Diversity And Success
Published: 2016-11-26
I recently heard Jennifer Brown author Tedx-Talk speaker and entrepreneur talk about the social and economic advantages associated with diversity In her new book Inclusion Diversity the New Workplace 38 the Will to Change Jennifer calls upon people who can drive change to embrace diversity She argues that when we build systems that embrace diversity 8230
The Inside Three
Published: 2016-11-11
As I sit down to write the blog for this week the election is heavy on my mind On the receiving end of change I am flooded with emotions I keep returning in my thoughts to author Henri J M Nouwen s The Return of the Prodigal Son A Story of Homecoming Inspiration for the book sprang 8230
Purpose And Love
Published: 2016-11-05
Last week I heard author Patrice Tanaka http joyfulplanet com books speak about the role that having a purpose has had in her life and the benefit and importance of knowing one s purpose in achieving success and satisfaction in life and career She mentioned that significant research reveals that purpose-driven organizations outperform profit-only-focused organizations Personally I had no 8230
The Top Seven Things I Learned At Crain s
Published: 2016-10-28
Last week I attended the Crain s New York Family Business Summit where I heard fathers daughters sons and siblings discuss the joys and challenges of working side by side I listened to stories of how families managed to grow their businesses with each successive generation and learned how family businesses are seen from the unique 8230
That Which Endures
Published: 2016-10-21
I recently received a review copy of Geoff Colvin s new book Humans Are Underrated What High Achievers Know That Brilliant Machines Never Will 1 In it he asks which human skills will be highly valued tomorrow given the growth of ever more awesomely able technology Calvin observes that the skills valued by the economy are changing 8230
Dreaming Intention And Process
Published: 2016-10-14
If your dream is to see your children carry on the family business you must both look at every day with that intention and enjoy it as a process And as Seth Godin writes in a recent blog 8220 8230 the end result is always at the end of an arc always the result of many steps 8230
Letting The Children Go
Published: 2016-10-09
To all families there comes the time of letting the children go Sooner or later they leave home and move out into the world But for parents truly letting children go is often much more complex than that It requires the emotional cutting of ties with expectations hopes dreams about what our children should do with 8230
Decisions Instruments Of Movement
Published: 2016-9-30
When struggling with a theme for this blog I often seek inspiration from Seth Godin well-known author entrepreneur and marketer In a recent blog entitled The ripples Godin opens with Every decision we make changes things http sethgodin typepad com seths blog 2016 09 the-ripples html It follows therefore that every business decision we make changes the business It can be large 8211 move the business 8230
Women A Powerful Presence In Family Business
Published: 2016-9-24
Some of the world s oldest businesses are family businesses and women have perennially played significant roles in them From generation to generation women have served in one or more of these high-level capacities Business partner playing a functional or organizational role Senior advisor and business confidante to the CEO The keeper of family values and 8230
Your Family And Business Values
Published: 2016-9-17
The guiding light for what you do on a daily basis The reason clients work with you The reason employees are on your team What you would not change remains constant in a changing market place What a successful family enterprise keeps constant not vision mission goals products or services 8211 across generations 160
Momentum Let It Ride
Published: 2016-9-09
The NY Times Corner Office by Adam Bryant is one of my favorite business columns In it he reports on his interviews with business leaders On Sunday September 2 he turned his spotlight on Ben Chestnut CEO of MailChimp When Bryant asked him to name some of his leadership lessons Chestnut s answered Never sacrifice momentum 8230
Hot Tips In A Small Red Package
Published: 2016-8-25
In October of 2008 consultant David Bork published a small book filled with common sense advice and tips for business families and family businesses The Little Red Book of Family Business is full of pragmatic perceptions and useful practices covering issues from attitudes to wills On decision making Bork writes Families often fall into the 8230
Facing Conflict In The Family Business
Published: 2016-8-16
All family businesses and all families at one time or another face conflict And it can be extreme Understanding what triggers conflict and how it develops is useful Understanding how to manage it is even more important serious advice offered by family-business consultants Doug Baumoel and Blair Trippe in their new book Deconstructing Conflict Understanding Family Business Shared 8230
Stewardship
Published: 2016-8-10
One of my favorite perspectives on family business is that of stewardship which is an attitude of seeing our responsibility in taking over the family business from our predecessors as a mandate to grow and improve it and to pass it on to the next generation in better shape and with greater possibilities than it 8230
A Father s Legacy
Published: 2016-8-04
Several years ago my daughter gave me for Father s Day a journal entitled A Father s Legacy Your Life Story in Your Own Words Each page has a question with space to write on themes from a lifetime of experiences childhood family life education career love and marriage parenting It asks for recollections of time spent with school 8230
Creating Lasting Value
Published: 2016-7-28
LinkedIn affords business people the opportunity to learn from many important thought leaders through their posts Among others I follow the posts of Gerald Hassel Chairman and CEO of BNY Mellon Hassell has published several posts on Alexander Hamilton one of our nation 8217 s founding fathers He is interested in Alexander Hamilton not only because he 8230
Is Philanthropy Right For Your Family Business
Published: 2016-7-23
The meaning of the word philanthropy is love of humanity Much more than just the giving of money philanthropy embraces ever voluntary act of giving to others The form that philanthropy takes is as varied as the philanthropists themselves For example consider David Bohnett whose foundation supports a wide range of social issues American rock 8230
Checking The Corner-Office Timeclock
Published: 2016-7-15
On March 5 2014 the Wall Street Journal published findings of a study by professors at Harvard Business School the London School of Economics and Columbia University 8217 s business school in which they examined differences between family and non-family businesses The Journal article focuses on the work schedules of CEOs in the two types of firms 8230
The Advisory-Board Confusion
Published: 2016-7-07
Our advisory board includes my dad and me my uncle who is retired from the business and our non-family Chief Financial Officer He s on the board because he s unbiased and will make decisions based on what the business needs Otherwise my dad and I make decision on what s best for everyone The above statement made 8230
Starting With Intention
Published: 2016-6-25
When speaking to heads of family businesses I have often found that asking what are their intentions with regard to changes they want to see helps them more than asking what are their plans
Beneath The Surface Of The Ground
Published: 2016-6-17
In my last post I cited a Chinese proverb about creating long-term prosperity Today I refer my readers to the thinking of a Native American culture 8211 the Five Nations of the Iroquois 1 In American Indian Environments Ecological Issues in Native American History Chief Oren Lyons of the Onondaga Nation writes 8220 We are looking ahead as is 8230
Grow People
Published: 2016-6-11
Chinese proverbs are sources of immense wisdom coming down to us through the ages Ancient they may be yet they are solidly relevant to our contemporary world Here is one whose message is directly applicable to long-term success in family business If you want one year of prosperity grow grain If you want ten years 8230
The Three Faces Of Innovation In Family Business
Published: 2016-6-02
The presence of entrepreneurial spirit coupled with a culture of Innovation within your family firm is possibly the strongest predictor of long-term success It s important to understand that innovation is not confined to the development of new products and services although this is indispensable The vital part that innovation plays in business processes and organizational 8230
Innovation Is It Really A Choice
Published: 2016-5-28
Last week I wrote about the critical necessity of innovation for multigenerational success in family businesses Continuing on with this theme here are some of the advantages enjoyed by businesses that have a culture of innovation and some of the obstacles that block the way to this goal Advantages Dexterity flexibility and speed that comes 8230
Applied Innovation Defined For The Family Business
Published: 2016-5-20
Innovation a new idea device or method the act or process of introducing new ideas devices or methods Source Merriam-Webster 8217 s Learner 8217 s Dictionary Applied Innovation the process of constant improvement and creative change a requirement for the continued success of multi-generational family enterprises Like any other business family businesses benefit from if 8230
It Is About Family
Published: 2016-5-14
In a recent blog entry I reported my experiences at the annual conference of Attorneys for Family Held Businesses AFHE Through its membership of multidisciplinary family-business advisors AFHE promotes the well being and sustainability of business families and recognizes that family businesses can only be as healthy as the families themselves This theme echoed resoundingly 8230
Fifth Generation And Almost Out
Published: 2016-5-04
Family enterprises that have continued into their 5th generation often have processes in place that helped them overcome the challenges they encountered through the years They have a vision for the future They have a declaration of shared values They have governance structures such as a family council an external advisory board They have a 8230
Reality Is Bigger
Published: 2016-4-29
Last week I attended the annual conference of Attorneys for Family Held Enterprises AFHE While there I had the opportunity to hear speakers from a range of professional disciplines family business advisors financial planners psychologists and attorneys I was particularly impressed by the clarity of the presentation entitled 8216 Engaged Ownership More Effective Governance for Multi-Generational 8230
The Word From D C It Takes A Team
Published: 2016-4-23
I am writing this blog piece while attending the annual conference of Attorneys for Family Held Enterprises AFHE in Washington D C Each year s conference brings together a multidisciplinary group of family business advisors financial planners psychologists and attorneys 8211 representatives of AFHE s wide membership base One of the organization s underlying missions is to promote the well being 8230
More Than Do No Harm
Published: 2016-4-14
I saw my internist recently and we started to talk about a book written by neurosurgeon Henry Marsh entitled Do No Harm Stories of Life Death and Brain Surgery In it the author gives a viscerally disturbing account of what can go wrong in surgery and with the brain itself He speaks about risk he 8230
Precarious Placement
Published: 2016-4-06
Positioning the second generation as managers responsible for overseeing the processes and systems established by the founder is a not-uncommon practice in family business but this custom sets up a potential problem The second generation never develops the entrepreneurial skills necessary to take the business into the future during the time of their leadership
Pulled Into The Future
Published: 2016-4-02
The leadership vision and entrepreneurial talent of the founding generation of a family business may be very different than that needed in subsequent generations and installing a successor who is a copy of the founder may result in the failure of the business to change with an evolving market environment or the growing needs of 8230
The Networked Age What Can LinkedIn Leaders Learn From Family Businesses
Published: 2016-3-26
I recently heard Jeremy Stover LinkedIn 8217 s head of leadership management and executive development speak as part of a panel discussing the state of executive coaching I asked him about the success of leadership coaching within LinkedIn and he directed me to an article he wrote in December of 2105 entitled 8220 Social Leadership in the Networked 8230
Giving Your Best
Published: 2016-3-18
My grandfather said to me Give the world the best you have and the best will come back to you 1 Upon reading this a particular family-business story came to mind A friend of mine the youngest sibling in a second-generation family business was frustrated by his father s strong-minded control and by his older siblings apparent 8230
The Familiness Of Your Family Business
Published: 2016-3-11
John CEO of the firm tells Robert that they are letting him go because he was coming up short on the competencies needed for his job John turns away and then back to face Robert He says Son I heard you lost your job How can I help Familiness in a family business is that 8230
A Family Community
Published: 2016-3-05
In January 2016 Dennis T Jaffe Ph D published a book entitled RELEASING THE POTENTIAL OF THE RISING GENERATION How Long-Lasting Family Enterprises Prepare Their Successors In it he discusses attitudes and actions that together comprise the success of multi-generational family businesses Jaffe 8217 s book makes a strong case for the idea that family business success is 8230
Working With Siblings
Published: 2016-2-26
In a recent blog entry Seth Godin wrote about options for finding leading and motivating employees in a small business he used the term 8220 tiny business 8221 He characterizes three different management styles what types of employees work best in each how they work together how they relate to being led 8220 a team of equals 8220 fellow 8230
Accepting Anxiety
Published: 2016-2-19
Last week I wrote about how to keep moving forward in times when we are feeling overwhelmed by challenges in our businesses My posting today is on a similar theme managing our anxiety Some business owners thrive on anxiety They require the frenetic energy it delivers in order to do business Others suffer severely under the 8230
Downstream
Published: 2016-2-11
This past week a number of my clients expressed feeling overwhelmed by unexpected challenges they are facing in their businesses Speaking metaphorically I suggested to one client that he keep the nose of his kayak pointing downstream that he turn his attention to steering day-to-day business operations A crisis is not the time for big-picture planning 8230
But What Will I Tell My Grandchildren
Published: 2016-2-04
Seth Godin recently wrote a post with a seven-word title 8220 But what will I tell the others 8221 He calls these out as Seven urgent words that are rarely uttered The profound question These are he says The words we imagine we 8217 ll tell the boss the neighbors our spouse after we make a change or take 8230
Assessing Emotional Intelligence The Results Are In
Published: 2016-1-29
For the past two weeks I have been writing about emotional intelligence and its role in family business From the many responses I have received it is clear that this topic has struck a chord with readers This week I want to briefly show the value of applying emotional intelligence assessment within a family business 8230
Emotional Intelligence Do We Have Two Minds
Published: 2016-1-22
Last week I wrote about why family businesses are particularly susceptible to the impact of emotional triggers I observed that well-directed emotions can be useful Successful business families blend cognitive perspectives 8211 thinking understanding learning remembering 8211 with the energy of emotions At the intersection where these 8220 two minds 8221 meet the capacity for cooperation innovation growth and longevity is 8230
You Are So Emotional
Published: 2016-1-17
Yes I am emotional l am your sister brother son daughter mother father another family member We not only work together we grew up in the same family We share common experiences and emotional history 8211 ingrained touch points that can trigger easily Because of this familiarity emotions can spill over into a family business much more 8230
Family-First Or Business-First Revisited
Published: 2016-1-09
In an earlier blog posting I wrote about distinctions between a family-first and a business-first business Family-first promises employment to family members based on the family relationship Business-first promises employment based on the needs of the business and capabilities of the individual family relationship is secondary The question is asked whether family businesses are more 8230
Your Job Is To Prepare The Next Generation
Published: 2016-1-03
In his influential work The E-Myth Revisited addressing small business owners author Michael E Gerber stated Simply put your job is to prepare yourself and your business for growth Addressed to the head of a family business this admonition applies in modified form Simply put your job is to prepare the next generation for multigenerational 8230
A Family-Business New-Year s Resolution
Published: 2015-12-24
In the blink of an eye another year has passed and resolutions for 2016 may be creeping into our thinking The closing of the year bestows a blessing it encourages reflection 8211 pressing us to review our individual accomplishments our persistent challenges what we are grateful for what more we hope to accomplish and who we would 8230
The Last-Minute Succession
Published: 2015-12-13
In his recent blog entitled 8220 the last minute 8221 Seth Godin writes I 8217 m not good at the last minute It 8217 s really fraught with risk and extra expense I 8217 m much better doing things the first minute instead http sethgodin typepad com seths blog 2015 12 the-last-minute html For a family business 8216 last-minute succession planning 8217 is similarly afflicted and is sadly too often what takes place Successful 8230
The Best Family-Business Leaders Are Constant Learners
Published: 2015-12-04
In their article The Best Leaders Are Constant Learners published in Harvard Business Review Kenneth Mikkelsen and Harold Jarche write that today s business leaders must make meaning of a playing field that is constantly changing shape A valuable axiom for creating successful family businesses is that next-generation leaders need to keep their eyes on the 8230
Succession Is A Process
Published: 2015-11-27
One of the more important axioms pertaining to family businesses is that succession is more a process than a transaction Coupled with another everything goes better with planning and Stephen Covey s second habit of highly effective people begin with the end in mind it constitutes a recipe for success 160
The Not-Ideal Path
Published: 2015-11-21
Seth Godin recently wrote a blog post titled Natural Light http sethgodin typepad com seths blog 2015 11 natural-light html In it he describes two ways of making things One way is to tightly control conditions To ensure consistently of outcome pre-process the inputs so that all raw materials are precisely the same every time The other way Godin calls the path of natural 8230
Developmental Stages Of Multi-Generational Family Businesses
Published: 2015-11-14
A few weeks ago I had the pleasure of hearing Lena Jungell a fourth-generation member of The Fazer Group speak at the Fall 2015 Global Family Business Event hosted by the Baruch College Lawrence N Field Center for Entrepreneurship In her talk Ms Jungell presented elements essential for the growth and sustainability of a multi-generational 8230
Values Vision Mission The Bedrock Of Family Businesses A Real-Life Illustration
Published: 2015-11-07
Last week I wrote about having attended the Fall 2015 Global Family Business Event hosted by the Lawrence N Field Center for Entrepreneurship at Baruch College where I heard a talk by Lena Jungell a fourth-generation member of The Fazer Group An international family-owned-and-run firm based in Finland The Fazer Group proudly produces top-of-the-line bakery 8230
An Owners Vision
Published: 2015-10-31
On October 22 I attended the Fall 2015 Global Family Business Event hosted by the Lawrence N Field Center for Entrepreneurship at Baruch College City University of New York The keynote speaker was Lena Jungell a fourth-generation member of 8220 The Frazer Group 8221 She shared with us the story of her family 8217 s business http www fazer com our-brands karl-fazer finlands-most-valued-brand Her talk 8220 The Development 8230
Differences And Consensus
Published: 2015-10-22
In his October 4 2015 NY Times column Corner Office Adam Bryant presented his interview with Gary B Smith CEO of the Ciena Corporation 8220 Gary Smith of Ciena Build a Culture on Trust and Respect 8221 In it Smith shares some of his history his early influences and how his views changed with experience In last 8230
It s All About People
Published: 2015-10-15
In his October 4 2015 NY Times column Corner Office Adam Bryant presented his interview with Gary B Smith CEO of the Ciena Corporation 8220 Gary Smith of Ciena Build a Culture on Trust and Respect 8221 In it Smith shares some of his history his early influences and how his views changed with experience In last 8230
Nurturing Next-Generational Success
Published: 2015-10-10
In his October 4 2015 NY Times column Corner Office Adam Bryant presented his interview with Gary B Smith CEO of the Ciena Corporation 8220 Gary Smith of Ciena Build a Culture on Trust and Respect 8221 In it Smith shares some of his history his early influences and his experiences as he took on his first 8230
Moving The Center
Published: 2015-10-01
A point is reached in the life of a family-owned or closely-held business where in order to continue growing it needs to begin a process of transitioning from an owner-centric to a management-centric enterprise This is one of the top challenges for businesses where family members maintain tight operational controls In order to move forward 8230
Fear Or Dreams
Published: 2015-9-26
Seth Godin recently wrote in a blog that motivators for important actions come down to either fear or dreams http sethgodin typepad com seths blog 2015 09 dreams-and-fears html Godin is writing from the perspective of how marketing is positioned Fear and dreams are equally strong motivators in family businesses especially during times of impending transition Both parents and children can experience fears of 8230
We Are An Eight-Track Tape Deck
Published: 2015-9-19
or we are a buggy whip or any other product whose purpose is largely irrelevant to the needs of the current marketplace Family businesses built on the vision and hard-work of their founders may no longer be viable a generation or two later because of the inevitable changes in the external business environment Herein lies 8230
For Older Family Business Leaders Goals Turn Inward
Published: 2015-9-12
A family business has been established for many years It has been guided to a level of maturity and success and is firmly established For the leader of such a firm focus now shifts from financial concerns and growing the business to an emphasis on human contact and relationships Instead of seeking outside professionals whose 8230
Teaching Trust
Published: 2015-8-27
This past Spring my daughter completed two years teaching high-school math in the Dallas-Fort Worth area with Teach For America https www teachforamerica org She is staying on another year so she can see the first class she taught graduate Now in her third year she is participating in a semester-long professional-development program sponsored by Teaching Trust http www teachingtrust org 8230
What Do Google Apple And Successful Family Businesses Have In Common
Published: 2015-8-21
Authenticity In a recent posting on Tech Crunch Network Justin Rosenstein writes that Apple and Google both having reached the pinnacle of business success are very different companies in their business style and leadership What they have in common though is a culture of authenticity that is the source of their success Rosenstein writes that 8230
How Did Grandpa Start The Business
Published: 2015-8-14
This is a question that should instill a sense of pride The entrepreneurial spirit that started the family business is both a touchstone for the family and a competitive advantage in the market place It is a story generally built on clear values creative problem solving experimentation and hard work Regrettably most family businesses fail 8230
A Crisis Is A Terrible Thing To Waste
Published: 2015-8-08
Quote attributed to economist and entrepreneur Paul Michael Romer https en wikipedia org wiki Paul Romer It s natural behavior that when things are good business is growing and we are making money we pay less attention to costs It s a time when expenses can creep upwards but don t matter significantly Eventually though they may get out of hand precipitating a crisis 8230
Washing The Hands Of Your Father
Published: 2015-7-31
Axiom and Challenge in Family Businesses In discussions about successful multi-generational family businesses I frequently state what I believe to be an axiom each generation needs to respect the past and keep an eye on the future Challenges often expressed to achieving this ideal are a loss of perspective and even worse a sense of 8230
West Point Leadership And Family Businesses
Published: 2015-7-25
In his article The Re-Education of Jim Collins published in Inc Magazine Bo Burlingham of Editor at Large Inc writes about the lessons that Jim Collins business guru and author of such business classics as Good to Great and Built to Last learned during his two-year appointment to West Point 8217 s Chair for the Study of 8230
Struggle And Strength
Published: 2015-7-18
Ongoing Discussion at the Family Business Mastermind The Family Business Mastermind is a peer-to-peer learning group Participants meet monthly at the Lawrence N Field Center for Entrepreneurship at Baruch College of the City University of New York to discuss the pressures challenges and concerns of being part of a family business http www meetup com Family-Business-Mastermind-at-Baruch-College-Manhattan At July 8217 s Mastermind 8230
The Unreasonable First Generation
Published: 2015-7-11
Seth Godin recently wrote a blog post on a characteristic bias of human nature regarding the perception of 8220 reasonableness 8221 http sethgodin typepad com seths blog 2015 07 unreasonable html He pointed out that in relationships we consistently perceive and 8220 act as though 8221 it 8217 s the other person and not ourselves who is being unreasonable This situation is not infrequently seen in the interactions between members 8230
Talent And Commitment
Published: 2015-7-04
If I were asked to recommend top-of-mind best strategies for multi-generational success in a family business I would advocate fostering the development of next generation-talent and leadership and instilling a values-based commitment to being a multi-generational family business 160
Family Policies
Published: 2015-6-28
I was speaking with a long-time acquaintance with whom I went to high school He is a third-generation member of a family business He mentioned that his family has an ongoing policy starting when the family 8217 s children become teenagers If any of them think they want to go into the family business they are expected 8230