Blog
Business Succession Planning – It’s not “if”, it’s “when?”
One of the most ridiculous things I’ve ever heard about business succession planning came from Giuseppe (not his real name) who declared that he didn’t need to worry about succession planning for his business because he wasn’t planning to retire any time soon. Giuseppe was 79 years old! He had four sons working in his […]
Read MoreArbitrator – Like having Solomon on Steroids for Commercial Disputes
Arbitration is an excellent private dispute resolution option for individuals and businesses in dispute. The parties agree to appoint an independent person – the Arbitrator (who should be an expert in the subject matter of the dispute) to make a binding decision on the issues in dispute. The Arbitrator gathers information, using documents and/or in […]
Read MoreAlternative Dispute Resolution – The ADR Story
Alternative Dispute Resolution (“ADR”) describes any process used to settle or resolve disputes that is not court-based litigation (ie: it’s an “alternative”). Alternative Dispute Resolution has a long history however, ADR was not widely adopted in Australia until the early 1990s – when politicians and judges acknowledged that our court systems had become so slow, […]
Read MoreAdvisory Boards – The “Great Leap Forward” for Business Families
Establishing an Advisory Board (or “Advisory Committee”) is one of the easiest, quickest, cheapest and most effective measures any family business can take to improve the quality of its thinking, planning, problem solving and general decision-making. The concept is simple: an Advisory Board is an identifiable body, established by a family to help it make […]
Read MoreBusiness Family Alignment – the Family Plan
Throughout the Western world, less than 5% of all family businesses survive the third generation curse: “from shirt sleeves to shirt sleeves in three generations”. The 5% that do make it through often proceed for many generations – in clear evidence that they’ve worked out and applied something really important to their family about sustainability […]
Read MoreDifficult Family Conversations – 10 Key Issues
Security: physical, emotional and financial, sit at the top of Maslow’s hierarchy of human needs. Situations that challenge your sense of personal security are therefore likely to create feelings of insecurity and discomfort, which is why many of us are reluctant to initiate conversations likely to start, or to become, difficult. The expectation that a […]
Read MoreSuccessful Successions in Family Business
Business Succession involves the transfer of Ownership, Leadership, Management and (sometimes) Employment, from one generation to another. The succeeding generation can be within the family, or not. The objective is to transition the business from one generation to the next, so it can survive and be renewed. Family Succession is another thing entirely, although the […]
Read MoreFamily Conflict and Mediation – looking for “Uncle Bob”
Conflict (noun) = a form of protracted discord between individuals or groups. Conflict (verb) = to clash emotionally, intellectually, materially or physically. Conflict is a form of energy that can be focussed, or unfocussed, on its inbound and outbound course. Active families constantly generate relationship conflict through their interactions. Active businesses constantly engage in competitive […]
Read MoreBest Practice in Family Business
“Best practice is a technique or methodology proven by experience and research to lead reliably to an optimal result”. So, if we implement and support Best Practice in our family business we should enjoy success – whatever that means for our business family and for our family’s business. In an “ordinary” business the key measures […]
Read MoreDifficult Older People & Behaviour Change
We’re seeing increasing numbers of older business owners struggling with the fundamental concept (let alone the required actions!) of family and business succession, and with the challenges of “refiring, not retiring” – as they contemplate living for many years after “finishing” their main work. That work has often been at the centre of their lives, […]
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