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.
It’s not always easy working in a family business as a family member—but working for that family business as an in-law can be a whole other challenge. BanyanGlobal’s Josh Baron and Rob Lachenauer describe the best way to work together effectively and successfully.
To stay apprised of the specific needs and challenges of family businesses, we again commissioned the expert assistance of market research firm MacKenzie Corporation, a second-generation family business in Orange County, California, to conduct our 2024 Family Business Survey. Read more about three optimistic findings from this year's results.
In the dynamic landscape of family businesses, where tradition meets innovation, leaders are continually adapting to shifting priorities to maintain their competitive edge. As we stride into 2024, it's evident that beyond the perennial focus on sales, marketing, and growth, a new beacon is illuminating the path to success: employee satisfaction and engagement.
Most jobs lack a compelling purpose. This deficiency makes us sluggish, disengaged, careless, disloyal, unhappy, and unhealthy. Fortunately, there’s a way to free ourselves from the modern trap of meaningless labor without switching careers or quitting jobs.
The First Bank Center for Family-Owned Businesses held a webinar on January 17th about culture with Dr. Allie Taylor and Donna Brighton. Allie and Donna led a conversation to put together the culture conversations from our October and November webinars, and to increase understanding of how to harness the strength of the family system to build an organizational culture that accelerates business results.
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.