Category Archives: Family Business Education

Laying the Entrepreneurial Foundation

At a recent gathering of 100 family business and family office advisors, from numerous professional disciplines, there was an expansive discussion about what it takes to foster entrepreneurship in business, philanthropy and wealth management. Over the course of two days, … Continue reading

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Power without Knowledge – An Unnecessary Burden

In my work with sibling or cousin shareholder groups, I often encounter unprepared, or “sudden” shareholders.  These individuals come into ownership of their family’s business as a result of a gift or the death of a parent with little to … Continue reading

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The Power of Mistakes

Nobody likes to make mistakes – but avoiding mistakes at all costs may be a big mistake… First, everyone will make mistakes – you cannot realistically avoid this.  Living in a bubble, making no decisions and generally staying away from … Continue reading

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Life Long Development

A few weeks ago, I had the opportunity to participate in a family business conference.  I was struck by the number of sessions devoted to the topic of education – educating the next generation of owners, educating the next generation … Continue reading

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The Roles and Responsibilities of Beneficiaries

Trusts are important tools when planning for the continuation of family ownership into future generations. While trusts are often effective in tax and transition planning, family and business issues can emerge when little is done to educate beneficiaries about their … Continue reading

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3 Different Audiences for Family Business Education

In a previous article on family business education, Amy Schuman and I suggested one critical task in planning education is to ‘Clarify your Purpose’ – and an important related construct may be ‘Think about your Audience’.  While there are many … Continue reading

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Developing the New Leaders of your Family Enterprise

Recently the Family Business Consulting Group produced a new webinar program titled “Developing the New Leaders of your Family Enterprise”.  Below are responses to a few of the questions asked by the participants during the program.  The complete webinar is available … Continue reading

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More Family Talent in Maine

   Did you know that three generations of Wyeths painted Maine landscapes that are so stunning they will knock you out of your socks? The Farnsworth Museum in Rockland Maine is devoted to their art as well as that of … Continue reading

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Strong Families Have Fun Together – Explore Together – So – Try Maine!

    Did you know that, if you stretched the coast of Maine out into a straight line, it would reach all the way from Maine down to California? That’s how many curves and coves the coast contains. As my … Continue reading

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What is a “Stakeholder”?

In our education article Amy Schuman and I used the word ‘stakeholder’ to talk about the broad group of people who should have a role to play in the education process in a family business.  While we use this word … Continue reading

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