Recent surveys have unveiled a resounding consensus among family business leaders: the imperative to explore untapped territories ranks among the top priorities for strategic evolution.
The article, “My Father’s Wisdom,” by Mark Sanborn, and originally published on marksanborn.com, gives a personal account of how the author’s father not only provided good advice verbally to him as a child but also supported that advice through his actions. The author shares four specific lessons he learned from his father’s wisdom.
Charlie Rhomberg shares how Crescent Electric Supply overcomes the challenges of keeping over 100 shareholders across seven family branches informed and on the same page.
In order to survive and thrive across generations, family businesses must not only identify those individuals who express interest in leading the firm, but also better understand how to successfully prepare the next generation of leadership.
The First Bank Center for Family-Owned Businesses held a webinar on December 14, 2021, discussing the challenges that next generation business leaders face.
Engaging the next generation in the family business requires more than communicating with them about the business. It requires learning and understanding what is needed in order to bring value to the company.
A critical aspect of the longevity of a family business is selecting and preparing the next-generation leader.