Tag: family business
Advice, Please: I Want to Hire My Friend. Is That Too Risky?
Last week, a client asked me this question: “Is it okay to hire my friend/cousin/other connected person in my ecosystem?” I replied that it could be terrible–particularly if and when the job comes to an... Continue reading
In HBR: How to Prepare the Next Generation to Run the Family Business
This post originally appeared on HBR.org. Statistics on family-owned and -operated businesses show that although as many as one-third of family businesses transition to second-generation leadership, in the last five years, that number has dropped to... Continue reading
In HBR: Your Family Business Needs a Deep Bench
This article originally appeared on hbr.org. Whether business is booming or your organization is in the midst of a tough time, a crucial aspect of risk management is ensuring that your organization has bench strength — that employees... Continue reading
In HBR: How to Make Your Family Business More Professional
This article originally appeared on hbr.org. Many family businesses take on the distinctive identity, focus, and idiosyncrasies of the family leaders who run them. These norms can be motivating and can create a sense of common... Continue reading
4 Practical Ways to Share Difficult Information at Work
Some time ago, I had a wonderful conversation with Alicia Butler Pierre, the engaging host of the podcast Business Infrastructure, about how to deliver difficult news at work, and in particular, some of the hardships... Continue reading
In European Financial Review: Why Leaders Fail to Make Succession Plans – And What to Do About It
This article originally appeared on The European Financial Review. Boards and executive teams may lament the lack of a succession plan for the business, but struggle to find the time or approaches that will ensure... Continue reading
In HBR: Managing an Underperformer in a Family Business
This article originally appeared on hbr.org. In family businesses, leaders sometimes make hiring and staffing decisions based on relationship and obligation as much as on competence and experience. After all, one purpose of these firms is... Continue reading