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flevyblog
The Flevy Blog covers Business Strategies, Business Theories, & Business Stories.
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Every firm will eventually reach the point when it has to professionalize the way it operates. This is done by instituting more rigorous processes, establishing clear governance, and recruiting skills from outside. Family Business is… Professionalizing the Family Business: Getting Ready
Family businesses are an overlooked form of ownership. Yet, they are all around us. One-third of companies in the S&P 500 index and 40% of the 250 largest companies in France and Germany are defined… Keeping Family Committed: The Family Business 5 Dimensions of Activity
One problem we find in so many family businesses is their “risk management awareness,” notes Don Schwerzler, a family business master strategist. The owners are either unaware of potential problems or they understate the potential… The Truth about Risk and Its Impact on Family Businesses
Building consensus about how the business should be operated, now and into the future, is one of the most difficult problems confronting family businesses. In a non-family business, the answer is rather simple and obvious:… Building Consensus in Your Family Business
There are a lot of stories about how men are reluctant to read the directions before starting to do an assembly or not asking for directions when they are lost! According to one study by… This Is a Major Issue for Family Business Owners: Asking for Help
“Many family business owners who come to us for help complain that they always have a scarcity of time and money,” according to leading family business expert Don Schwerzler. “In fact, that is why many… Family Business Owners, Dream Big! But Also Consult a Finance Expert
“Responsibility diffusion is a critical impediment to successfully growing a family business. And, the larger the family business grows, the larger the problem becomes!” opines Don Schwerzler, an internationally recognized family business expert who has been studying… Responsibility Diffusion: A Critical Impediment When Growing a Family Business
You have to find the obstacles, then overcome them… fly over them, dig under them, outflank them to move around them. And it is often the ones that you didn’t see that cause you the… Succession Planning Obstacles and Guidelines in Family Business