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Monthly Archives: March 2012
Just Like Her Dad, part 3
Amy Schuman All week we’ve been pondering the case of ‘Jennifer,’ daughter of the founder, who has been told by those around her that her success seems assured, because she is seen to be Just Like Dad. Jennifer is a … Continue reading
Just Like Her Dad, part 2
Earlier this week we presented the case of ‘Jennifer’, who joined the family business two years ago. The COO reported that the executive team was excited about Jennifer because she was “Just Like Her Dad”. We posed the question to … Continue reading
Just Like Her Dad, part 1
Recently, the COO of a large family business told me that he was really excited about the daughter of the current CEO who had just celebrated her second anniversary with the company. The daughter, who we’ll call Jennifer, had followed … Continue reading
To what end? The value of getting clarity on mission
One of the most enlightening discussions I was privileged to facilitate with a client was one involving the family’s Mission as it related to the business. The question posed was “why do we own this business?” The question was rephrased … Continue reading
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
Posted in Family Business Policies, Governance & Boards
Tagged distribution, liquidity, policies, schwarz, Shareholders
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Parallel Planning for Family Business
Planning for the business and family in an interrelated and systematic way can seem artificial and uncaring from a family perspective. Planning structures, decision processes, policies and procedures for family relationships in the way you would design business relationships may … Continue reading
Posted in Conflict & Communication, Strategic Planning
Tagged baskin, parallel, planning, structure
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Inherited Partners
Few people would ever allow someone else to choose their business partners if they were founding a company, but this indirectly happens quite frequently in family enterprise. Thoughtful and forward planning parents pass on the assets they worked so hard … Continue reading
Posted in Conflict & Communication, Sibling Teams
Tagged communication, conflict, cousins, Eckrich, partners, siblings
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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
Posted in Compensation, Family Business Policies, Ownership & Shareholders
Tagged compensation, Eckrich, ownership, perks
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Improving Communication in Family Businesses
There’s never been a time in history when we’ve been able to send messages faster. In an age when what you are thinking can be written down, sent via email, and read by another person in a nanosecond, you would … Continue reading
