Category Archives: Family Business Policies

Implementing a Family Employment Policy

In my last post, I promised to give you an example or two of family rules or policies that can help to create a healthy separation between family socialism and business capitalism in family businesses.  A family employment policy is … Continue reading

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Spring Cleaning – Organizing

Due to our long winter this year, my mind has just turned to spring cleaning.  The concept of spring cleaning – organizing, starting with a clean slate, focusing on priorities and getting rid of what’s not so important –  has … Continue reading

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Lessons from the U.S. Election

Last week’s Presidential election in the United States was a great lesson on the need to have clarity about how decisions are made and what the framework is for implementing those decisions.  Many family businesses have created their own guidelines … Continue reading

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CFO Issues

We were recently with a forum of 10 non-family CFOs of large family businesses. When asked what are the “family business” issues most on their mind, they responded with the following (in no particular order): Airplane use Incentive compensation Board … Continue reading

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Distribution Policies

When the family business has shareholders with diverse financial needs and interests, disagreements over distribution policies can be challenging to the business and the family.  To better manage these discussions, it may be helpful to know or consider the following: … Continue reading

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Where do YOU draw the line?

Position #1:  Our family built this business and we take on all the downside investment risk.  As owners, we take many ownership perks (club memberships, cars, personal services performed by the business) so our owners appreciate some upside at very … Continue reading

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SHOULD YOU HAVE A SHAREHOLDER (BUY-SELL) AGREEMENT ?

Going into business with a parent, child, sibling, in-law, or cousin both demands and assumes a certain level of trust. But, you need more than good faith and a firm handshake. Future disagreements and unexpected events can occur and tear apart … Continue reading

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Adjusting ‘On The Fly’ For Unexpected Situations

Earlier this week, I shared some thoughts on creating a flexible system to deal with the unexpected situations that naturally occur in family business transitions.  While planning is very important to ensure successful transitions, the best plans will inevitably need … Continue reading

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Falling in love at work

What rules, if any, should address what happens if you and / or other members of your family who own stock in the family business fall in love with an employee? We’ve seen cases where that employee becomes an in-law … Continue reading

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Are Family Perks Ever In Order?

When the economy tanked in 2008, many business owning families trimmed employee pay and benefits, and reduced perks available to family members working in the business.  While many have recovered with improved economic conditions, we see families struggle to balance … Continue reading

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