Tag Archives: Letting Go

Pay for Succession?

When most family businesses hear the phrase, “you will pay for succession,” they likely think it means that there will be pain associated with the process of transitioning from one generation to the next. I’m here to suggest another, more … Continue reading

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Provide Next Generation Experience Without Risking the Entire Enterprise

So, if as we discussed in our last post next generation “heirs apparent” need real P&L experience how can this happen in a way that helps everyone develop confidence without putting the entire enterprise at risk? The answer, of course, … Continue reading

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Your Children Need an Opportunity to Fail

I am often struck by how difficult it is for brilliantly successful people to achieve their ultimate goal – seeing the business they worked so hard to build continue in their family.  Sometimes the very person who has dreamed so … Continue reading

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The Ford Family as Owners

by John L. Ward Friend and colleague Amy Schuman urged me to read American Icon: Alan Mulally and the Fight to Save Ford Motor Company (by Bryce Hoffman, 2012). It’s a compelling and captivating story of a dramatic turnaround. It’s … Continue reading

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Spring Cleaning – A Fresh Start

We’ve devoted the week to spring cleaning. For many people, the process of spring cleaning is not much fun, but they do enjoy the outcome – a more organized, clean and clutter free environment. Family businesses aren’t the best at … Continue reading

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Why Do We Wait Until The Last Minute?

“We have a looming transition with no real plan.  Not sure why, but my father has just now decided he would like to get out of the day-to-day operations and sell the business to my brother and me before the … Continue reading

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Setting a Date

In reflecting further about this month’s Family Business Advisor article entitled, “Must the Prince Kill the King?” by Albert Jan Thomassen, I am struck by how easy it sounds to have the senior leader “set a date” for the final … Continue reading

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Is leadership earned or is it granted?

This month’s Family Business Advisor article entitled, “Must the Prince Kill the King?” by Albert Jan Thomassen strikes at the heart of the question, “Is leadership earned or is it granted?” Those who believe it is granted do their very … Continue reading

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LETTING GO IS HARD BUT NECESSARY

For most family business senior CEOs, the prospect of relinquishing control is a troubling one. It presents many fears—the fear of mortality, the fear of not having sufficient funds and the fear that one’s adult children won’t get along. These … Continue reading

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“Show me the money” What it takes to be the company’s next leader – Part 1 of 3

This is the first of three postings focusing on observed realities of business leadership.  The ‘Show me the money’ line comes from the 1996 movie Jerry Maguire and is said by a pro-football player to his agent, played by Tom Cruise.    … Continue reading

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