Blog
Why I feel like a Goose
Why I feel like a Goose I’ve been a Family Business Solutionist for many years – acting as a best practice adviser, mediator, and strategic problem-solver. Generally, and despite the complexity and unpredictability baked into the family business sector, we’ve achieved good outcomes. BUT, when engagements last longer than expected, and morph into something quite […]
Read MoreInflation Fears Halt Succession Plans
Déjà vu? When the GFC hit (2007 – 2009), the succession plans of many family businesses came to an abrupt halt as legions of outgoing leaders suddenly re-cast themselves into the roles of business heroes and saviours – ostensibly because they’d lived through, and survived, previous recessions and financial crises. In their minds their successors […]
Read More“More, or “Meaningful”?
by Jon Kenfield MBO (Note: this is my personal, unauthorised take on what somebody else said). James E Hughes Jr. is a US attorney and the author of several highly influential books about preserving and enhancing family wealth. Hughes postulates that while financial capital provides practical support for multi-generational families, their true wealth lies in […]
Read More“Don’t Mention the War!” – Lessons learnt working with Business Families
1. What is Old will never be New again – elongation of life expectancy Observations Our Past: Family succession was usually caused by the physical and/or mental incapacity or death of family leaders. Historically, this is why Wills were the prime determinants (one can’t really say “guides”) for family succession and inheritance. Our Present: We’re […]
Read MoreCause #50 3rd Parties (1) – Externals
Observations The actions and inactions of non-family: Directors, Managers, Employees and Advisers (“Externals”) are a common cause of conflict in Family Business. Family Businesses are notorious for birthing warring cliques and factions – supporters for: Mum vs Dad; siblings against siblings (or cousins); generation against generation; and employees against family – please get them out […]
Read MoreCause #49 Old Retainers
Observations Old Retainers are a common cause of conflict in family business. Typically, Mum or Dad has worked with “old Phyllis / Sam” since the early days and over the years has (allegedly) promised: “we’ll always look after you”, in return for their unconditional loyalty. Conflicts arise when new business leaders are pressured to honour […]
Read MoreCause #48 Emotional Trauma & Disruptive Behaviours
Observations Psychology is the science of understanding how people think, feel, behave and learn. Collectively, this is the functional domain of the mind – which is not the same thing as the brain: a single, identifiable, physical organ. Psychological trauma describes damage to the mind that occurs as a result of a distressing event – often the […]
Read MoreCause #47 Religious/Ethnic Issues and Cultural Norms
Observations Every family has its own culture – which determines how it rolls. Some family cultures are based on strongly traditional religious and/or ethnic guidelines and directives, while others are more modern and laissez-faire. All family cultures exert powerful influences on personal values, expectations and behaviours – in the family, and often in its business […]
Read MoreCause #46 Family Talent (lack of)
Observations “Talent” describes a person’s natural aptitude. It’s a predictor of potential ability, but it’s not ability itself. Most people can generally learn basic skills. Acquiring advanced skills and capabilities requires the application of training and experience to an appropriate measure of talent. Along the scale, talent separates the incompetent, the mediocre, and the sublime. […]
Read MoreCause #45 Retirement & Other Exits
Observations Generational transition (aka “succession”) and the retirement of one or some people that comes with it, is THE major cause of conflict in family business. 85% of my working life is spent trying to resolve the tensions that arise in business families through stalled and/or conflicted successions, and their many related issues. “Retirement” means, […]
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