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.
Your vision and legacy are too important to be left up to chance. The article, “Successor Training: Take it Slow,” by Chris Yount, and originally published on Family Business Magazine, discusses the process of slowly transitioning successors into the family business.
Family business panelists, along with Dennis Jaffe, discuss preparing the next generation of their business, how they handle complications, and how they keep family harmony to promote longevity in the family business.
Dennis Jaffe, Senior Research Fellow at BanyanGlobal Family Business Advisors, shares his findings after interviewing fourth generation family businesses across 20 countries during the 2023 Family Business Symposium.
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.