Five Reasons You May Need a Family Business Advisor

Family business experts say the most common reason for failure is the lack of family business succession planning, though there are a host of other issues and situations which require careful attention and due diligence to maintain a healthy and successful organization over the long-term. As a busy family business owner, how can you run your company and ensure that it will survive and thrive? This requires long hours and hard work, so it may be time to consider hiring a family business advisor. READ MORE


How to Effectively Engage a Family Business Advisor

Engaging an advisor for a family business requires some unique considerations as family ownership often presents complexities and hurdles not generally found in other business types. To effectively engage a family business advisor, keep in mind these considerations. READ MORE


Is Your Family Fairly Compensated? Key Considerations of Family Business Compensation

Determining fair compensation for family members in a family-owned business can be a bit more complicated than one might imagine. The issue of fair compensation not only involves multiple aspects of the business, but also the complexity of the family. Following are some key factors to consider in determining the appropriate level of compensation among family members in the family business. READ MORE


Actionable Tactics to Encourage Family Business Innovation

Understanding that innovation from the next generation and other key employees does not always happen automatically, the company culture should provide an environment that fosters this creative process. And logically, changes to the company culture usually must begin at the top – with the controlling generation. Here are some actionable tactics that that family business owners can take to encourage innovation. READ MORE