Blog

Saltwater Crocodile

Family Conflicts:  The Apex Factor The challenges presented by dominant parents/entrepreneurs The Australian saltwater crocodile is an apex predator – it sits at the top of its food chain.  An adult croc faces few natural threats, other than man, and ferociously uses its considerable bulk to assert dominion over its chosen territory. Many family businesses […]

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Risk Management for Business Families

A key characteristic of all enduring business families is their willingness to do whatever is necessary to adequately and appropriately manage all significant risks and threats to their continuity, as a family group.  This applies however the group re-invents itself, from generation to generation. Conversely, the most common cause of business family failure is the […]

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Practice Succession: passing on a legacy, or just selling-out?

A tale of two practices … In 2011 the first Baby Boomers reach 65 – the traditional retirement age for western males. The Boomer generation’s enormous energy, fed by aspirational consumerism and decades of relative peace and prosperity, spawned an explosion of entrepreneurial businesses and professional practices.  Many of the owners and leaders of these […]

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Keeping it (your business) in the Family

The Challenge So you’ve built a good, even a great business, and it’s getting towards that time when, for whatever reason, you want to step out, back, or sideways.  You need someone else to take over the helm.  But, the last thing you want to do is desert everyone who’s supported you over the years, […]

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Governance and the Role of Non-Executive Director

Essentially the non-executive director’s role is to provide a creative contribution to the board by providing objective criticism. they: “should bring an independent judgement to bear on issues of strategy, performance and resources including key appointments and standards of conduct.” There is no legal distinction between executive and non- executive directors. As a consequence, non-executive […]

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Governance Functions and Boards for Family Businesses

Governance Corporate governance refers to the structures, strategies, principles, policies and processes by which businesses, and the senior executives thereof are led, managed, supervised, measured and controlled. Governance style defines the attitude, culture and integrity of an organisation.  It therefore forms a major component of risk management. In many family business environments, executives involved in […]

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Family Business Best Practice – A Magic Toolbox?

What is Family Business “Best Practice”? One of the primary goals of any family business adviser is to increase the effectiveness and success of Australian families in business – helping them attain greater peace and prosperity. Such an outcome suggests that a family has achieved a level of excellence, or “best practice”, but here’s the […]

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The Family Business “Magic Pudding”

How to achieve peace and prosperity in your family business …  in your lifetime! Situation:         The Family-in-Business – an energy-laden and explosive mix of passion and potential, capable of doing both wonderful things and woeful things. Challenges:     Every Family-in-Business faces some or all of the following challenges: Balance – individual, family and business needs and […]

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Criteria for choosing trustworthy advisers for families in business

General Concept Professional advisers should be an investment in peace of mind.  Basic compliance work excepted, their value should comfortably exceed the cost of their fees, in respect of their contributions to some or all of: Family success – financial, social and reputational. Family harmony – facilitating communication, problem solving and conflict management processes. Family […]

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Brainstorming Process

  Brainstorming is the best-known and most widely used technique for stimulating creative group thinking and for generating a broad range of options in response to just about any issue or challenge. The process was developed and the name initially coined by Alex Osborne, an American, in 1939.  He defined brainstorming to mean:  ‘A listing […]

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