Historically, professional advisors primarily focused on business-related matters, often overlooking the unique challenges and intricacies associated with managing a family-owned business. However, there is a noticeable shift toward seeking advice on non-business, yet equally important, aspects of family business.
The Financial Crimes Enforcement Network has implemented a new regulation under the Corporate Transparency Act that requires certain businesses to file Beneficial Ownership Information by January 1, 2025. This mandate aims to enhance transparency and combat illicit activities, such as money laundering and fraud, by creating a federal database of beneficial owners.
This once-in-a-lifetime conversation between Dr. Marshall Goldsmith and Mikel Williamson is moderated by First Bank's Senior Vice President and Director of the Center for Family-Owned Businesses Ed Hart. Goldsmith and Williamson discuss how leadership has evolved in the past few years and what traits and characteristics exist in the world's greatest leaders. Watch now.
The article, “Research Reveals Claw-Back Bonus Schemes Can Lead to Big Losses,” debates the pros and cons of “loss-framed” bonuses, or those pre-paid to sales teams and then “clawed back” if targets aren’t met.
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, “Going From Zero To Hero,” by Mark Sanborn, and originally published on marksanborn.com, explains how great leaders want heroes on their teams, not zeroes. It also outlines a specific action plan for “heroes” within an organization as well as the recipe on how to avoid becoming a “zero.”
The article, “The Power of Self Leadership,” by Mark Sanborn, and originally published on www.marksanborn.com, discusses the importance of first learning the art of leading yourself before being able to successfully lead others. He also outlines some of the key skills that create self-leadership.